Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

filter Chinese hog farms 'panic' as swine virus shrinks herds China produces half the world's pork, but 80 percent of China's hog farms are not

image text in transcribed
image text in transcribed
filter Chinese hog farms 'panic' as swine virus shrinks herds China produces half the world's pork, but 80 percent of China's hog farms are not going to restock as a swine fever spreads. Farmers fatten hogs with soybean, so imports of soybeans are expected to fall by 85 million tons by September. Source: Bloomberg, April 22, 2019 How will the virus change the prices of hogs, soybean, and pork? The virus O A. lowers the price of pork and soybean because the demand for pork and soybean decreases and raises the price of hogs because the supply of hogs decreases O B. has no effect on the prices of hogs, pork, and soybean because the markets will find substitutes O C. raises the prices of hogs, pork, and soybean because the supply of hogs, pork, and soybean decreases O D. raises the prices of hogs and pork because the supply of hogs and pork decreases and lowers the price of soybean because the demand for soybean decreases O E. raises the prices of hogs, pork, and soybean because the virus creates a shortage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Global Financial Markets And Institutions

Authors: Frank J. Fabozzi, Frank J. Jones, Francesco A. Fabozzi, Steven V. Mann

5th Edition

0262039540, 978-0262039543

More Books

Students also viewed these Economics questions