Read the article“The retreat from meat: Why people in rich countries are eating more vegan food”. This article is provides in a separate pdf file. Your task is to prepare an economic analysis of the market for meat, focussing on beef. Specifically, you must address the following:
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a) Present a general model for the global market for beef, and an individual beef producer model, in long-run equilibrium. The model needs to be clearly explained.
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b) How might concerns for the environment, health and animal welfare be reflected in your diagram of the market for beef?
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c) Focusing on one of these issues, how might governments intervene to mitigate this problem? Show how this intervention will affect individual beef producers.
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d) Does the rise of vegetarianism and veganism have the potential to remove the need for government intervention?
