Macroeconomics: Principles, Problems, & Policies 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0-07766-077-3
ISBN 13: 978-0-07766-077-2

Chapter 3 - Demand, Supply, and Market Equilibrium - Discussion Questions - Page 72: 5

Answer

Price increases

Work Step by Step

According to the law of supply, since the number of cattle (the supply) decreases, there will be an increase in the price of cattle.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.