The number of sandwiches and ice cream cones consumed will reduce if the price of ice cream cones rises to $2 a piece
The number of sandwiches and ice cream will decrease this is because according law of demand at a higher price the quantity demanded for the goods is reduced. People tend to buy more commodity when the price is reduced.
Therefore, The number of sandwiches and ice cream cones consumed will reduce if the price of ice cream cones rises to $2 a piece
Learn more on commodity below,
https://brainly.com/question/17242780
#SPJ1
If the number of sandwiches and ice cream cones consumed if the price of ice cream cones rises to $2 a piece, income and substitution effects will take place.
Income effect is the change in the consumption pattern of consumers based on their income at a particular time.
Substitution effects is the change which occurs when consumers replace expensive goods with cheap goods as a result of changes in price and income.
Learn more about demand:
https://brainly.com/question/1245771
#SPJ11
