How Well Do You Know Supply and Demand?

4. 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.)

Demand Curve Will:
Supply Curve Will:
Price Will:
Quantity Will:

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