An increase in the price of ice cream is likely to

Question

Quizplus · Accepted Answer

An increase in the price of ice cream will make it more expensive for consumers to purchase, which will decrease the demand for ice cream. As a result, there would be less need for ice cream cones, so the demand for them would also decrease. Option A is incorrect because an increase in the price of ice cream would not increase the demand for ice cream cones. Option C is incorrect because the supply of ice cream cones is determined by the producers, not the price of ice cream. Option D is incorrect because the price of ice cream cones is not directly affected by the price of ice cream.

An Increase in the Price of Ice Cream Is Likely