Demand and supply analysis price of dairy cow fodder increases, price of beef decreases.
Demand and Supply
Illustrate what happens to the equilibrium price and quantity of ice cream in response among each of the following? Explain your answers.
The price of dairy cow fodder increases.
The price of beef decreases.
Concerns arise about the fat content of ice cream. Simultaneously, the price of sugar (used to produce ice cream) increases.