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9Please give only typed answer Refer to the supply-demand diagram for beef as below. The equilibrium is initially at point J. Suppose beef is a

9Please give only typed answer

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Refer to the supply-demand diagram for beef as below. The equilibrium is initially at point J. Suppose beef is a n Time left 0:05:31 and can be substituted by chicken, which of the following could explain the movement to a new equilibrium at point M? S' $2.00 M $1.50 $1.00 D D 50 75 100 125 Q / Beef O a. A decrease in population combined with an increase in the wage level. O b. An increase in buyers' income combined with a decrease in the number of acres owned by cattle ranchers. O c. A change in buyers' tastes away from chicken to beef combined with a cost-saving technological improvement in cattle feed. O d. A decrease in buyers' income combined with an increase in the price of chicken

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