ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The demand goes up.
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The demand goes down.
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The demand stays the same.
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None of the above
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Detailed explanation-1: -A change in the price of the good (in this case, chicken) cannot change the demand for chicken because each price is included in the table. A change in price will result in a change in the quantity people are willing to buy. Suppose the price changes from $3.00 per pound to $4.00 per pound.
Detailed explanation-2: -As we can see on the demand graph, there is an inverse relationship between price and quantity demanded. Economists call this the Law of Demand. If the price goes up, the quantity demanded goes down (but demand itself stays the same). If the price decreases, quantity demanded increases.
Detailed explanation-3: -It is a rare occurrence. When two chicks hatch from the same egg, the egg usually has two yolks. Usually, one embryo out competes the other and only one chick survives to hatch. Many time both embryos die before hatch.
Detailed explanation-4: -Most are euthanised and then either sent for rendering to be converted into protein meal for feed or turned into pet food. Hens that are at the end of their laying life are considered a by-product of the egg industry, unlike broilers that are reared for meat and are a valuable food product.