Farmers can choose to produce eggs or milk. If there is an increase in the price...
Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what will be the effect in the egg market?
| a. |
Egg supply will decrease. |
|
| b. |
The quantity of eggs demanded will increase. |
|
| c. |
Egg supply will increase. |
|
| d. |
Egg demand will decrease. |
Homework Answers
If there is an increase in the price of milk then the production of milk will increase and the production of eggs will fall. This will decrease the supply of eggs. the answer is "A".
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Farmers can choose to produce eggs or milk. If there is an
increase in the price...
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