Ice cream is made from fresh milk. A change occurs in the market for ice cream and the supply of ice cream changes. How does the supply change and why?   The supply of ice cream ________.     A. decreases today when the price is expected to rise next month   B. increases when the price of fresh milk rises   C. increases when ice cream workers are paid a higher wage rate   D. decreases when new technology lowers the cost of producing ice cream

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter5: Markets In Motion And Price Controls
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Ice cream is made from fresh milk. A change occurs in the market for ice cream and the supply of ice cream changes. How does the supply change and why?
 
The supply of ice cream ________.
 
 
A.
decreases today when the price is expected to rise next month
 
B.
increases when the price of fresh milk rises
 
C.
increases when ice cream workers are paid a higher wage rate
 
D.
decreases when new technology lowers the cost of producing ice cream
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