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Turkey and chicken are substitute goods. What happens to the supply and demand of chicken when there is a decrease in the price of turkey?
Turkey and chicken are substitute goods. What happens to the supply and demand of chicken when there is a decrease in the price of turkey? How does this impact the price of chicken?
Demand shift; price will increase; quantity will increase.
Demand shift; price will decrease; quantity will decrease.
Supply shift; price will increase; quantity will increase.
Supply shift; price will decrease; quantity will decrease.
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