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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