If Milk has an inelastic demand, and beef has an elastic demand and the supply of both beef cattle and dairy cattle goes down then the change in the equilibrium quantity of beef would be greater but the equilibrium quantity of milk would stay about the same right?
If Milk has an inelastic demand, and beef has an
elastic demand and the supply of both beef cattle and dairy cattle goes down then the change in the equilibrium quantity of beef would be greater but the equilibrium quantity of milk would stay about the same right?
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