Assuming that turkey, chicken, pork, and beef are substitutes, ...

[leo leo]

Assuming that turkey, chicken, pork, and beef are substitutes, suppose that the price of turkey has fallen. This will, other things being equal
 
  A) reduce demand for chicken, pork, and beef.
  B) leave demand for chicken, pork, and beef unchanged.
  C) increase demand for chicken, pork, and beef.
  D) increase quantity demanded of beef.

Question 2

Oligopolies can result from any of the following EXCEPT
 
  A) economies of scale.
  B) vertical mergers.
  C) government regulation.
  D) diseconomies of scale.

[cclemon1]

Answer to Question 1

A

Answer to Question 2

D