There Has Recently Been an Increase in the Price of Dairy

question 206

Multiple Choice

There has recently been an increase in the price of dairy products used in the production of ice cream. High temperatures have also induced people to consume more ice cream. In the market for ice cream, the effects these changes will have on equilibrium price and quantity are

• A) price will increase, and quantity will decrease.
• B) price will increase, and the effect on quantity is indeterminate.
• C) price will decrease, and quantity will increase.
• D) price will decrease, and the effect on quantity is indeterminate.

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Definitions:

Environment

The surrounding conditions or influences that affect the growth, development, or existence of organisms or things.

Dizygotic

Pertaining to twins that are born from separate eggs fertilized by separate sperm cells, resulting in them being genetically similar as siblings rather than identical.

Monozygotic

Referring to twins that are genetically identical because they were formed from a single fertilized egg that split into two.

Chromosome

A thread-like structure made of protein and a single molecule of DNA, found in the nucleus of cells, carrying genes that determine inherited traits.