Figure 3-12

-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?

Question

Figure 3-12
 
-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?

Quizplus · Accepted Answer

An increase in the price of frozen yogurt, a substitute for ice cream, would likely cause consumers to buy more ice cream instead, shifting the demand curve from D₁ to D₂.

Figure 3-12 -In Figure 3-12,suppose D₁ and S₁ Indicate Initial Conditions in Indicate