A new cattle feed has been found to increase the amount of milk each cow produces.Which of these is a likely impact in the market for milk,if this cattle feed is used by most of the dairies?

Question

Quizplus · Accepted Answer

The use of a cattle feed that increases milk production will lead to an increase in the supply of milk. This means that dairy producers will be able to offer more milk at each price level, causing a rightward shift of the supply curve for milk. As a result, there is likely to be a decrease in the price of milk, making it more affordable and potentially increasing the quantity demanded of milk.

A New Cattle Feed Has Been Found to Increase the Amount