Demand and supply analysis price of dairy cow

Reference no: EM1312835

Demand and Supply

What happens to the equilibrium price and quantity of ice cream in response to each of the following? Explain your answers.

1. The price of dairy cow fodder increases.

2. The price of beef decreases.

3. Concerns arise about the fat content of ice cream. Simultaneously, the price of sugar (used to produce ice cream) increases.

Reference no: EM1312835

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