d. An decrease in the price of peanut butter and jelly QUESTION 29 If scientists

Question

d. An decrease in the price of peanut butter and jelly QUESTION 29 If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen equilibrium price and quantity of lattés? - a. The equilibrium price would decrease, and the equilibrium quantity would increase b. Both the equilibrium price and quantity would decrease. CBoth the equilibrium price and quantity would increase o d. The equilibrium price would increase, and the equilibrium quantity would decrease QUESTION 30

Explanation / Answer

If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen to the equilibrium price and quantity of lattés?

Both the equilibrium price and quantity would increase.

Reason:- The individuals who will be prone to heart attack will start consuming more of latte and thus the demand will increase resulting in an increase in equilibrium price and quantity

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