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Author Question: Initially the beef and mutton markets are in equilibrium, then preferences shift away from beef and ... (Read 64 times)

roselinechinyere27m

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on: Apr 19, 2019

Question 1

Preferences have just shifted away from beef and into mutton. If you are a sheep rancher, the best profit-maximizing strategy is to


◦ shut down.
◦ produce as much as possible to earn profits in the short run.
◦ shift some of your ranching capacity into cattle raising.
◦ cut prices to increase market share.

Question 2

Initially the beef and mutton markets are in equilibrium, then preferences shift away from beef and into mutton. If you are a cattle rancher, the best profit-maximizing strategy is to


◦ shut down.
◦ increase output so as to increase your market share.
◦ shift some of your ranching capacity into cattle raising.
◦ decrease output so as to minimize short run losses.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by roselinechinyere27m on Apr 19, 2019

miss.ashley

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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roselinechinyere27m

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Reply #2 on: Apr 19, 2019
Thank you!


miss.ashley

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Reply #3 on: Apr 19, 2019
Always glad to help...


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