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In a small town, there is a sudden influx of tourists during the summer season. If this leads to an increase in the demand for
In a small town, there is a sudden influx of tourists during the summer season. If this leads to an increase in the demand for ice cream, and at the same time, ice cream shops expand their operations, what can you expect to happen to the equilibrium price and quantity of ice cream? Group of answer choices The equilibrium price of ice cream will rise, and the equilibrium quantity will rise The equilibrium price of ice cream will remain the same, and the equilibrium quantity will fall. The equilibrium price of ice cream will rise, and the equilibrium quantity will remain unchanged. None of the above
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