Question

Suppose that the market for ice cream is at market equilibrium when the price of the

cream and sugar used to make the ice cream increases. We would expect theequilibrium price of ice cream to _____
and the equilibrium quantity to ____

increase; increase
decrease; decrease
increase; decrease
decrease; increase

Answer 1

i believe it is C- increase, decrease

Answer 2

Answer: decrease decrease

Step-by-step explanation:

Suppose there was a question like...

If tennis rackets and tennis balls are complements, an increase in the price of tennis rackets will cause the equilibrium price of tennis balls to ______ and the equilibrium quantity of tennis balls to _____.

It's the same

The equilibrium price and quantity are found where the quantity supplied equals the quantity demanded at the same price