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Answer to Question #75840 in Economics of Enterprise for Akhona Boyce
Question #75840
If there is an increase in the price of red meat, a substitute in production for milk, then (a) Supply of milk will increase
(b) Demand for milk will decrease
(c) Supply of milk will decrease
(d) There will be a movement along the supply curve for milk
(b) Demand for milk will decrease
(c) Supply of milk will decrease
(d) There will be a movement along the supply curve for milk
Expert's answer
(c) Supply of milk will decrease
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