Suggested Answer:

(a) Model (5) is the most preferable because it includes all the economically relevant variables
     including the composite real price of chicken substitutes, which help alleviate problems of
     multicollinearity that may exist in the model (4) between the price of beef and the price of pork,
     Model (1) contains no substitute good information, and model (2) and (3) have limited substitute
     good information.