3. Assume that normal supply and demand curves can represent the American market for beef (in the form of meat). As a result of each event below, indicate in which direction the supply and demand curves will move (right, left, or no change) and what happens to equilibrium price and quantity. (Some of the questions come with little hints in the text area at the bottom.) A. The price of cattle feed rises.
Demand Curve Will:	Supply Curve Will:	Price Will:	Quantity Will:
??? Shift Right Shift Left Not Shift	??? Shift Right Shift Left Not Shift	??? Rise Fall Not Change	??? Rise Fall Not Change
Hint: Supply and demand is most useful when only one curve moves.