Question
An article in the Wall Street Journal on Friday May 27, 2011 titled The Return of Meatless Friday, discusses the sociological aspects of a recent
An article in the Wall Street Journal on Friday May 27, 2011 titled "The Return of Meatless Friday", discusses the sociological aspects of a recent announcement by the bishops of the catholic church in England and Wales.The bishops asked their parishioners to abstain from red meat every Friday for the entire year; not just during Lent.Some have claimed that if English and Welsh catholics reduce consumption of red meat by 5 tons every Friday, there would then be 5 tons more meat each week for others, including the poor, to eat.Assuming a typical upward sloping supply curve and downward sloping demand curve, over the long term, is the statement true or false?
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