‘The food supply chain is breaking,’ Tyson says as plants close.
Questions
- What type of meat was processed at the plants that shut down?
- Will the closure of these plants change the supply of meat, the demand for meat, or both?
- Does this event illustrate the law of demand or the law of supply? Explain.
- How will the market move to its new equilibrium?
- Draw a diagram to illustrate your answer to #4.