For each example, determine how the market for the good in bolded text will respond to the described change. Due to increases in hay prices, an input for raising cattle, the price of a gallon of 2% milk increases from $2.98 to $3.25. A company offers a coupon for $6 off the price of laser tag. A sharp increase in the price of wood causes increases in prices for dressers and desks. At a week‑long special at the grocery store, pork shoulder is on sale at $1.99/lb, down from $3.99/lb. A website offers a buy‑one‑get‑one‑free special for digital music albums. Answer Bank
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Home » Business » For each example, determine how the market for the good in bolded text will respond to the described change. Due to increases in hay prices, an input for raising cattle, the price of a gallon of 2% milk increases from $2.98 to $3.25.