Asked by Alyssa Grant on Apr 29, 2024
Verified
If the market for buffalo meat is in equilibrium,the price of buffalo meat will probably _____ in the near future.
A) increase
B) not change
C) decrease
D) increase considerably
Equilibrium
A condition or state in which market supply and demand balance each other, and as a result, prices become stable.
Buffalo Meat
The meat derived from buffaloes, considered a source of protein and widely consumed in certain cultures and countries.
- Comprehend the notion of market equilibrium and the factors that influence it.
Verified Answer
FH
fatema hassnMay 05, 2024
Final Answer :
B
Explanation :
If the market for buffalo meat is in equilibrium, it means that the demand for buffalo meat is equal to the supply of buffalo meat at the current price. Therefore, there is no reason for the price of buffalo meat to increase or decrease in the near future. Hence, the best answer is B, which is "not change."
Learning Objectives
- Comprehend the notion of market equilibrium and the factors that influence it.