Beef market if an economic recovery increased incomes

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Reference no: EM13982612

Beef has a positive income elasticity in Algeria. What would happen in the Algerian beef market if an economic recovery increased incomes?

a. Demand would shift out (or shift up/right), price would increase, and quantity would increase

b. Demand would shift out (or shift up/right), price would decrease, and quantity would increase

c. Demand would shift in (or shift down/left), price would decrease, and quantity would decrease

d. Demand would shift in (or shift down/left), price would increase, and quantity would decrease

Reference no: EM13982612

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