QuestionAugust 15, 2025

42. What will be the impact on the beef market of reinstatement of meatless Fridays for all Catholics? a) Demand for beef will increase. b) Demand for beef will decrease. c) Supply of beef will increase. d) Supply of beef will decrease. e) Both (b) and (d)

42. What will be the impact on the beef market of reinstatement of meatless Fridays for all Catholics? a) Demand for beef will increase. b) Demand for beef will decrease. c) Supply of beef will increase. d) Supply of beef will decrease. e) Both (b) and (d)
42. What will be the impact on the beef market of reinstatement of meatless Fridays for all Catholics?
a) Demand for beef will increase.
b) Demand for beef will decrease.
c) Supply of beef will increase.
d) Supply of beef will decrease.
e) Both (b) and (d)

Solution
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Answer

b) Demand for beef will decrease. Explanation 1. Identify the Effect on Demand Reinstating meatless Fridays means Catholics will consume less beef on Fridays, leading to a **decrease in demand** for beef. 2. Analyze the Impact on Supply The supply of beef is not directly affected by consumer religious practices, so there is no change in supply.

Explanation

1. Identify the Effect on Demand<br /> Reinstating meatless Fridays means Catholics will consume less beef on Fridays, leading to a **decrease in demand** for beef.<br /><br />2. Analyze the Impact on Supply<br /> The supply of beef is not directly affected by consumer religious practices, so there is no change in supply.
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