what will happen to the demand for cereal if the price of milk decreases? question 8 options: the demand for cereal will decrease the demand for cereal will stay the same the demand for cereal will increase the demand for cereal will be indeterminate

Respuesta :

The demand for cereal will decrease as the price of milk decreases as breakfast cereals and milk are consumed together at the same time.

What causes the demand curve to shift?

Changes in tastes, population, income, pricing of substitute or complement items, and expectations of future circumstances and prices are all factors that can affect the demand curve for goods and services, causing a different quantity to be demanded at any given price.

What happens when the demand curve shifts to the left?

A movement to the left in the demand curve implies a decline in demand as consumers buy fewer things at the same price. If no one buys the candy bar, the merchant reduces the price to $4. According to the normal demand curve, this price reduction should be enough to sell a candy bar.

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