Multiple Choice
Figure 3-12 
In Figure 3-12, suppose D 1 and S 1 indicate initial conditions in the market for ice cream. Which of the following changes would tend to shift this market from D 1 to D 2?
A) an increase in the price of milk, an ingredient used to produce ice cream
B) an increase in the price of frozen yogurt, a substitute for ice cream
C) a decrease in the price of sugar, an ingredient used to produce ice cream
D) a decrease in consumer income
Correct Answer:
Verified
Related Questions