Answer to Question #62817 in Microeconomics for John Smith

Question #62817
Given the rising price of Cocoa and sugar, Mars cut down the size of Snicker bars. Given your answer for question number 1, what would you predict will happen? a. Explain REFER TO THIS BELOW: http://www.theguardian.com/business/interactive/2010/jan/20/cadbury-kraftnestle-mars-ferrero
1
Expert's answer
2016-10-28T11:58:10-0400
If given the rising price of Cocoa and sugar, Mars cut down the size of Snicker bars, we would predict that as the real price of Snicker bars increased according to the decrease in size, then the quantity of Snicker bars sold will decrease.

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