Author Question: The price of milk increases. Which of the following is NOT part of the likely chain of events that ... (Read 48 times)

brutforce · **on:** Jun 29, 2018

The price of milk increases. Which of the following is NOT part of the likely chain of events that follows from this price change?

A) Some milk consumers reduce their consumption of milk.
B) Milk producers increase their production of milk.
C) The producers of feed for dairy cows increase production.
D) The manufacturers of milking machines lay off some workers.

Question 2

Microeconomics is concerned with studying which of the following?

A) the determinants of national unemployment
B) the effects of monetary policy
C) the study of individual markets
D) all of the above