The supply of cheese comes from milk. The price of cheese will decrease if
A. the supply of cheese decreases.
B. the price of milk increases.
C. the supply of milk decreases.
D. the demand for cheese decreases.
Answer: D
Economics
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The average tax rate is defined as
A) total tax due/change in taxable income. B) total tax due/total taxable income. C) change in taxes due/change in taxable income. D) change in taxes due/total taxable income.
Economics
Suppose Hank and Tony can both produce corn. If Hank's opportunity cost of producing a bushel of corn is 2 bushels of soybeans and Tony's opportunity cost of producing a bushel of corn is 3 bushels of soybeans, then Hank has the comparative advantage in the production of corn
a. True b. False Indicate whether the statement is true or false
Economics