Answer to Question #195933 in Microeconomics for aniket nayak

Question #195933

Suppose ice cream market is in equilibrium. If the price of milk falls, and all other variables are held constant, what would you expect for the new price and quantity of ice cream?


1
Expert's answer
2021-05-20T19:01:55-0400

The price of ice cream will remain the same but the quantity of ice cream demanded will increase


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS