Does the statement use the term supply correctly?.
Due to lower grain prices consumers can expect retail prices of choice beef to beg Show more Newspaper item: Due to lower grain prices consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork a substitute for beef becoming cheaper after midsummer the Agriculture Department predicted. This reflects increasing supply the department said. Does the statement use the term supply correctly? Explain. Part 2 If the price of beef were to drop by 10% would you expect the total revenue for farmers to increase or decrease? Be sure to thoroughly explain your answer and include economic terminology. Show less
Does the statement use the term supply correctly?
