Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 4 - Demand, Supply, and Market Equilibrium - Exercises - 4.5 Market Effects of Changes in Supply - Page 94: 5.8

Answer

$\downarrow$ $\uparrow$ $\uparrow$

Work Step by Step

The lack of bees to pollinate resulted in a smaller supply of fruits and berries. The change in supply increased the price of these goods used in the production of ice cream, shifting the supply curve of ice cream up. The shift in the supply curve increased the equilibrium price of ice cream.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.