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Assume that whole milk is a normal good. What would happen to the market for whole milk in each of the following cases: The price of breakfast cereal...

Assume that whole milk is a normal good. What would happen to the market for whole milk in each of the following cases:

a.   The price of breakfast cereal falls

b.   The price of 2% milk falls

c.    U.S. dairy farmers increase the production of milk

d.   An advertising campaign promoting the health qualities of consuming milk is successful

Top Answer

a.   The price of breakfast cereal falls - demand of milk will rise b.   The price of 2% milk... View the full answer

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Other Answers

Average variable cost = 2,000... View the full answer

1 comment
  • Am sorry, I posted this answer to the wrong question. I rgret any inconveniences caused
    • kawira1
    • Apr 01, 2018 at 9:08am

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