Consider the demand function for processed pork in Canada, Q= 171- 20p + 20p, + 3p, +0.002Y where Q is the quantity of pork demanded (measured in millions of kg per year), p is the price of pork, p, is the price beef, p. is the price of chicken, and Y is the income of consumers. If the price of beef decreases from $4 per kg. to $2.53 per kg., then the demand curve for processed pork will shift to the left by million kg. per year. (Enter a numeric response using a real number rounded to two decimal places.)
Consider the demand function for processed pork in Canada, Q= 171- 20p + 20p, + 3p, +0.002Y where Q is the quantity of pork demanded (measured in millions of kg per year), p is the price of pork, p, is the price beef, p. is the price of chicken, and Y is the income of consumers. If the price of beef decreases from $4 per kg. to $2.53 per kg., then the demand curve for processed pork will shift to the left by million kg. per year. (Enter a numeric response using a real number rounded to two decimal places.)
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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