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QUESTION
Milk is a major input in the production of ice cream. An increase in the price of ice cream would:
Milk is a major input in the production of ice cream. An increase in the price of ice cream would:
A) increase cookie supply which is, a substitute for ice cream
B) decrease cheese supply, an alternative way to use milk
C) decrease frozen yogurt demand, an ice cream substitute
D) decrease cookie demand, a complement for milk
E) increase the cottage cheese supply, which is another way to use milk
Is the answer A B C D or E and please explain?
