Recall Application 2, "Honeybees and the Price of Ice Cream," to answer the following questions:
-Using supply and demand analysis, if the "colony collapse disorder (CCD)" of honey bees caused a leftward shift of the supply curve for ice cream, then which of the following must be true?

Question

Quizplus · Accepted Answer

A leftward shift of the supply curve for ice cream caused by CCD would mean that there are fewer resources available to produce ice cream. This would result in a decrease in the equilibrium quantity and an increase in the equilibrium price. Therefore, the correct answer is B.