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price and quantity of beef from the following events. (Assume ceteris paribus for each of the event). 1. A 50 percent fall in the price

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price and quantity of beef from the following events. (Assume ceteris paribus for each of the event). 1. A 50 percent fall in the price of lamb, assuming lamb is a substitute for beef. II. A decrease in consumer income, assuming beef is an inferior good. III The governme has laughter COWS due to ma

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