49. Consider the market for ground beef represented by the figure, which is initially in equilibrium...

  

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49. Consider the market for ground beef represented by the figure, which is initially in equilibrium at point J. Assume that ground beef is an inferior good. Which of the follovwing could explain a movement to a new equilibrium at point M? a decrease in buyers' incomes combined with a decrease in the number of acres ovned by cattle ranches O a drop in the population combined with a increased price for an alternate form of packaged beef an increase in buyers' incomes combined with a cost-saving technological improvement a decrease in the price of hot dogs combined with an increased price for labor O a change in tastes away from hamburgers combined with an increased price for cattle feed Price per Pound S $2.00 M K $1.50 $1.00 D' D 50 75 100 125 Pounds of Ground Beef (thousands of pounds) in 49. Consider the market for ground beef represented by the figure, which is initially in equilibrium at point J. Assume that ground beef is an inferior good. Which of the follovwing could explain a movement to a new equilibrium at point M? a decrease in buyers' incomes combined with a decrease in the number of acres ovned by cattle ranches O a drop in the population combined with a increased price for an alternate form of packaged beef an increase in buyers' incomes combined with a cost-saving technological improvement a decrease in the price of hot dogs combined with an increased price for labor O a change in tastes away from hamburgers combined with an increased price for cattle feed Price per Pound S $2.00 M K $1.50 $1.00 D' D 50 75 100 125 Pounds of Ground Beef (thousands of pounds) in