Which of the following will definitely occur when there is an increase in demand for and a decrease in supply of milk?

Question

Quizplus · Accepted Answer

When there is an increase in demand for milk, consumers are willing to pay more, leading to a higher equilibrium price. Simultaneously, a decrease in supply means there is less milk available, which also pushes the price up due to scarcity. The combination of these two effects makes an increase in equilibrium price a definite outcome.

Which of the Following Will Definitely Occur When There Is