Soon after the United States revealed the discovery of a single mad cow in December 2003, more
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In the three weeks after the discovery, the quantity sold increased by 43% during the last week of October 2003, and the U.S. price in January 2004 fell by about 15%. Use supply-and-demand diagrams to explain why these events occurred.
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Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
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