Recall Application 2, "Honeybees and the Price of Ice Cream

question 179

Multiple Choice

Recall Application 2, "Honeybees and the Price of Ice Cream," to answer the following questions:
-Using supply and demand analysis, if the "colony collapse disorder (CCD) " of honey bees caused a leftward shift of the supply curve for ice cream, then which of the following must be true?

• A) The equilibrium price of ice creams increased and the equilibrium quantity increased.
• B) The equilibrium price of ice creams increased and the equilibrium quantity decreased.
• C) The equilibrium price of ice creams decreased and the equilibrium quantity increased.
• D) The equilibrium price of ice creams decreased and the equilibrium quantity decreased.

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