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In 2013, the state of New York increased the number of cows that dairy farms were able to have from 199 to 299. At the
In 2013, the state of New York increased the number of cows that dairy farms were able to have from 199 to 299. At the same time, "Greek" Yogurt became increasingly popular. All else equal, what would you expect to happen to the price and quantity of milk?
A. Price and quantity to rise
B. Quantity rises but the effect of price is ambiguous
C. Price rises but effect on quantity is ambiguous
D. Price falls but the effect on quantity is ambiguous
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