A Decrease in the Price of Milk (And Ingredient of Ice

question 180

Multiple Choice

A decrease in the price of milk (and ingredient of ice cream) will result in a(n) :

• A) shift of the supply curve of ice cream to the left.
• B) shift of the supply curve of ice cream to the right.
• C) lower price of ice cream, and thus an increase in the demand for ice cream.
• D) increase in the demand for ice cream and a decrease in the supply of milk.

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Definitions:

Change Competency

The ability of an organization or individual to effectively adapt to and manage changes.

KSAs

Acronym for Knowledge, Skills, and Abilities; important components that influence an individual's performance and efficiency in particular tasks.

Constant Improvement

denotes an ongoing effort to enhance all aspects of an organization or individual's performance, focusing on incremental upgrades over time.

External Pressures

Forces or influences originating outside an individual or organization that can affect behavior, decisions, or performance.