Use the following Information to work Problems 1 to 3.
Dairies make low-fat milk from full-cream milk. In the process of making low-fat milk the dairies produce cream, which is made into Ice cream. In the market for low-fat milk, the following events occur one at a time:
(j) The wage rate of dairy workers rises.
(ii) The price of cream rises.
(iii) The price of low-fat milk rises,
(iv) A new technology lowers the cost of producing ice cream
v) Dairy farmers switch some of the production of full-cream to vegetables, based on input from health research studies.
Explain the effects of each of the above events on the supply of low-fat milk.