question archive If the demand for milk is downward sloping, then what is the impact of an increase in the price of milk on demand or supply of milk?
If the demand for milk is downward sloping, then what is the impact of an increase in the price of milk on demand or supply of milk?
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If the demand for milk is downward sloping, then what is the impact of an increase in the price of milk on demand or supply of milk?
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It is given that the demand for milk is downward sloping, which means that there is an inverse relationship between price and demand for milk. Therefore, if the price of milk increases, the quantity demanded of milk will get reduce.
