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Question 1? {2 points} Cream is the main input in the production of boner. All else equal, if the price of cream decreases, what would
Question 1? {2 points} Cream is the main input in the production of boner. All else equal, if the price of cream decreases, what would we expect? 0 the demand for butter to decrease O the supply of butter to increase 0 the supply of butter to decrease O the demand for butter to decrease Question 18 {2 points) Market demand is given as Qd = 95- P. Market supply is given as Qs = 3P + 15. What would result if the market price were 525'? O a shortage of 20 O a shortage of 40 O a surplus of4l} O a surplus of 20
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