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andre [41]
3 years ago
12

The price of ice cream increases. In 1 or 2 sentences, explain how and why this affects the quantity of ice cream cones demanded

by consumers.
English
2 answers:
Genrish500 [490]3 years ago
8 0

The correct answer is: "the quantity demanded decreases"

A demand function represents the quantity of a certain good or service that consumers are willing to purchase at different price levels. The law of demand states that there is an inverse relationship between price and quantity demanded (<em>ceteris paribus, </em>hence, if the rest remains equal).<u>Therefore, when the market price increases, the amount that consumers are willing to purchase decreases. </u>

zvonat [6]3 years ago
5 0
The demand will most likely go down. People are less willing to purchase ice cream when the price is increased.
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