The Market for Milk Is Initially in Equilibrium

question 10

Multiple Choice

The market for milk is initially in equilibrium.Milk producers successfully advertise to encourage milk drinking.At the same time,more milk producers enter the market.Standard demand and supply analysis tells us that the:

• A)equilibrium price and quantity of milk will rise.
• B)equilibrium price and quantity of milk will fall.
• C)equilibrium quantity of milk will rise,but we can't determine how the equilibrium price will be affected.
• D)equilibrium price of milk will rise,but we can't determine how the equilibrium quantity will be affected.

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