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As a result of consumers' increased awareness of the health

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As a result of consumers' increased awareness of the health  [#permalink]

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New post 25 Nov 2011, 14:46
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A
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As a result of consumers' increased awareness of the health risks associated with heavy consumption of red meat, the meat of the ostrich has become increasingly popular as a low-fat, low-cholesterol alternative to beef. Accordingly, the number of ostrich farms in the United States has nearly quadrupled since 1980, flooding markets with ostrich products. However, the price-per-pound of ostrich meat, adjusted for inflation, has not decreased at all over the past several years.

Which of the following, if true, would best explain the steady price-per-pound of ostrich meat?
A)The demand for ostrich products has outpaced the supply.
B)Ostriches are especially difficult to breed in captivity.
C)Other types of meat, such as pork and poultry, have decreased in price over the past several years.
D)Purveyors of beef have not attempted to counter beef's poor public image.
E)The number of supermarkets that carry ostrich meat has increased steadily since 1980.
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New post 27 Nov 2011, 08:39
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E for me..

If OA is true, it means that demand is greater than supply, making ostrich products deficient. According to this, and economic principals, the price of deficient product would rise rather than remain steady.

Answer E says, that a number of supermarkets which carried ostrich products increased, so demand was met, thus prices remained steady.
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New post 27 Nov 2011, 11:53
the official answer is A. but thank you for reply
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Re: As a result of consumers' increased awareness  [#permalink]

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New post 13 Dec 2011, 00:34
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manalq8 wrote:
As a result of consumers' increased awareness of the health risks associated with heavy consumption of red meat, the meat of the ostrich has become increasingly popular as a low-fat, low-cholesterol alternative to beef. Accordingly, the number of ostrich farms in the United States has nearly quadrupled since 1980, flooding markets with ostrich products. However, the price-per-pound of ostrich meat, adjusted for inflation, has not decreased at all over the past several years.

Which of the following, if true, would best explain the steady price-per-pound of ostrich meat?
A)The demand for ostrich products has outpaced the supply.
B)Ostriches are especially difficult to breed in captivity. => This answer does not make sense because ostrich has become increasing popular whether its taste is
C)Other types of meat, such as pork and poultry, have decreased in price over the past several years. => irrelevant
D)Purveyors of beef have not attempted to counter beef's poor public image. => irrelevant
E)The number of supermarkets that carry ostrich meat has increased steadily since 1980.


Between A and E

IrakliG wrote:
E for me..

If OA is true, it means that demand is greater than supply, making ostrich products deficient. According to this, and economic principals, the price of deficient product would rise rather than remain steady.

Answer E says, that a number of supermarkets which carried ostrich products increased, so demand was met, thus prices remained steady.


Your reasoning is flawed because the citizens are the final customer. If their demand is under the supply, the second price that offered in the supermarket also decrease => the first price that offered by whole sales farmers will also decrease.

In some part, choice E only explain the ostrich flood the market. No more.

Choice A is more concise because the argument say that "the price of ostrich has not decreased at all over the past several years." This fact does not mean that the price stay constant. It can be constant or increase depend on the relation between supply and demand.
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New post 10 Jan 2012, 11:15
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IMO A , though E comes closer.
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New post 04 Mar 2012, 09:22
IMO A.

Even though the number of ostrich farms in the United States has nearly quadrupled since 1980, consistent increase in ostrich meat demand has kept the prices increasing with time.
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New post 21 Sep 2013, 18:24
As a result of consumers' increased awareness of the health risks associated with heavy consumption of red meat, the meat of the ostrich has become increasingly popular as a low-fat, low-cholesterol alternative to beef. Accordingly, the number of ostrich farms in the United States has nearly quadrupled since 1980, flooding markets with ostrich products. However, the price-per-pound of ostrich meat, adjusted for inflation, has not decreased at all over the past several years.

Which of the following, if true, would best explain the steady price-per-pound of ostrich meat?
A)The demand for ostrich products has outpaced the supply. - If this happen the price will not decrease, note that it may increase
B)Ostriches are especially difficult to breed in captivity. - Doesn't matter as number of farms are four times, the supply is going to be around 4 times irrespective of difficulties
C)Other types of meat, such as pork and poultry, have decreased in price over the past several years. - Doesn't matter
D)Purveyors of beef have not attempted to counter beef's poor public image. - Doesn't matter
E)The number of supermarkets that carry ostrich meat has increased steadily since 1980. - The supermarkets that carry meat has increased because the demand has increased and not the other way round

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New post 05 Dec 2019, 23:07
How will the outpace in supply over demand keep the price steady?
If the supply is more than the demand, the price will actually fall right?
What am I missing here??
There should be a different reason for the price to stay steady isn't it?
Someone pls explain
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As a result of consumers' increased awareness of the health  [#permalink]

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New post 06 Dec 2019, 08:34
devavrat wrote:
How will the outpace in supply over demand keep the price steady?
If the supply is more than the demand, the price will actually fall right?
What am I missing here??
There should be a different reason for the price to stay steady isn't it?
Someone pls explain


Hi devavrat,

Your understanding is correct that "If the supply is more than the demand, the price will actually fall"
But the option says the opposite.
The demand for ostrich products has outpaced the supply

Demand has outpaced the supply, meaning demand is greater than the supply. Hence price will increase and not decrease.
Moreover the argument never said steady. It says not decreased which can mean either steady or increased.

Hope this will be helpful :)
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As a result of consumers' increased awareness of the health   [#permalink] 06 Dec 2019, 08:34
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