The graphs below show the world and Chinese Beef, Pork and Rabbit/Dog meat markets before the Swine Flu hits China. The world pork and beef markets does not include the Chinese markets. Notice that the world's meat markets are in long run equilibrium where the price of beef and pork are the same in China and the World. Outside of China no one eats dog and rabbit meat only the dog and rabbit market in China is depicted. In China, Pork is an ( ) good. and dog meat is is an ( ) . . In the world, beef and pork are ( ) . The chart below shows historical change in GDP per capita in China from 1960 to 2014. The Change in the World illustrated in the chart is an ( ) in chinese income . Consider possible changes in the Chinese meat markets depicted below. The change in Chinese income from 1960 to 2014 shifted DStart to ( ) and Dstartto ( ). The changes in demand caused Dog and Rabbit meat prices to ( ) and the price of pork to ( )

The graphs below show the world and Chinese Beef, Pork and Rabbit/Dog meat markets before the Swine Flu hits China. The world pork and beef markets does not include the Chinese markets. Notice that the world's meat markets are in long run equilibrium where the price of beef and pork are the same in China and the World. Outside of China no one eats dog and rabbit meat only the dog and rabbit market in China is depicted. In China, Pork is an ( ) good. and dog meat is is an ( ) . . In the world, beef and pork are ( ) . The chart below shows historical change in GDP per capita in China from 1960 to 2014. The Change in the World illustrated in the chart is an ( ) in chinese income . Consider possible changes in the Chinese meat markets depicted below. The change in Chinese income from 1960 to 2014 shifted DStart to ( ) and Dstartto ( ). The changes in demand caused Dog and Rabbit meat prices to ( ) and the price of pork to ( )

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 10QFR

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