Which of the Following Would Cause a Decrease in the Supply

question 151

Multiple Choice

Which of the following would cause a decrease in the supply of milk?

• A)an increase in the price of cookies (assuming that milk and cookies are complements)
• B)a decrease in the price of milk
• C)an increase the price of a product that producers sell instead of milk
• D)an increase in the number of firms that produce milk

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Definitions:

Organizational Markets

Markets composed of businesses and other organizations that buy goods and services for use in their operations or in the production of other goods and services.

Amazon.com

An American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.

Contact Lenses

Thin lenses placed directly on the surface of the eye to correct vision or for cosmetic purposes.

Reseller

A company or individual that purchases goods or services for the purpose of selling them to others rather than for personal use.