Economic theory predicts that the price of a fast food hamburger (whose principal ingredient is beef) will be high since demand is high. Explain the key characteristics of the organizational field of the beef industry that combine to keep beef prices, and hence hamburger prices, relatively low.

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Question: Economic theory predicts that the price of a fast food hamburger (whose principal ingredient is beef) will be high since demand is high. Explain the key characteristics of the organizational field of the beef industry that combine to keep beef prices, and hence hamburger prices, relatively low.