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Figure 3-12 in Figure 3-12, Suppose D1 and S1

Question 276

Multiple Choice

Figure 3-12 Figure 3-12 In Figure 3-12, suppose D<sub>1</sub> and S<sub>1</sub> indicate initial conditions in the market for ice cream. Which of the following changes would tend to shift this market from D<sub>1</sub> to D<sub>2</sub>? 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 In Figure 3-12, suppose D1 and S1 indicate initial conditions in the market for ice cream. Which of the following changes would tend to shift this market from D1 to D2?


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

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