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Author Question: Farmers can choose to produce eggs or milk. If there is an increase in the price of milk then what ... (Read 112 times)

Mollykgkg

  • Hero Member
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  • Posts: 529
on: Jun 30, 2018
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. The quantity of eggs demanded will increase.
  b. Egg demand will decrease.
  c. Egg supply will increase.
  d. Egg supply will decrease.

Question 2

Farmers can produce wheat and/or rice. What will happen in the wheat market if there is an increase in the price of rice?
 a. Wheat supply will increase. b. Wheat supply will decrease.
  c. Wheat demand will increase. d. Wheat demand will decrease.


Joy Chen

  • Sr. Member
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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


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