According to the model of supply and demand, an increase in the price of milk will cause a

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Quizplus · Accepted Answer

An increase in the price of milk will result in a decrease in the quantity supplied of milk. Cheese is a byproduct of milk, so if there is less milk being supplied, there will be less cheese being supplied as well. This means there will be a leftward shift in the supply curve for cheese, resulting in a decrease in the quantity supplied and likely an increase in the price of cheese.

According to the Model of Supply and Demand, an Increase