Microeconomics:
In prior years, Mad Cow Disease has taken its toll on the beef industry. Review the following article regarding Mad Cow Disease, and answer the questions that follow.
Operators say beef sales still meaty despite mad cow scare. (2004, January 12).
Nation’s Restaurant News, 38(2), 1,6. Retrieved March 26, 2008, from EBSCO
MegaFILE database. (11947873)
https://search.ebscohost.com.ezproxy.rasmussen.edu/login.aspx?direct=true&db=keh&AN=11947873&site=ehost-live
• What was the impact of mad cow disease on the supply and demand for beef?
• What happened to the price of beef as a result?
• What was the impact of mad cow disease on the supply and demand for substitute items?
• What do you think happened to the price of substitute items as a result?