Changes in the price of beef itself would not shift the demand curve. So, the correct answer is a decrease in the price of chicken, a substitute for beef. So the option B is correct.
In a hypothetical scenario where the price of beef is currently $5 per pound, and the market is in equilibrium, a meaningful question arises regarding the potential impact of various factors on the demand curve for beef. If the price of beef were to increase to $7 per pound due to a shortage of cattle feed, the question becomes, "Which of the following would not shift the demand curve for beef?"
Considering the given statement, the correct answer would be a decrease in the price of chicken (a substitute for beef). Changes in the price of beef itself, as in this case, are movements along the existing demand curve. However, an increase in consumer income, a new health trend promoting beef consumption, and anticipated population growth could all potentially shift the demand curve for beef. An increase in income might lead to increased demand, a health trend could alter consumer preferences, and population growth might result in an overall rise in beef consumption.
Therefore, understanding the distinction between movements along the demand curve and shifts in the demand curve is crucial in identifying which factors would or would not influence the demand for beef in this particular context.
The probable question maybe:
Suppose the price of beef is currently $5 per pound, and the market is in equilibrium. Consumers in this market are accustomed to buying beef regularly. Now, considering the given statement, we can frame a meaningful question:
"If the price of beef increases to $7 per pound due to a shortage of cattle feed, which of the following factors would not shift the demand curve for beef?"
a) An increase in consumer income
b) A decrease in the price of chicken (a substitute for beef)
c) A new health trend promoting beef consumption
d) Anticipated population growth in the region