Question: The estimated supply function for ice cream is QS = 50 + 5P - 10Pm, where QS is the quantity supplied of ice cream, P

The estimated supply function for ice cream is QS = 50 + 5P - 10Pm, where QS is the quantity supplied of ice cream, P is the price of ice cream, and Pm is the price of milk (an input for producing ice cream). The price of ice cream (P) is $3. If the price of milk (Pm) decreases from $3 to $2, Group of answer choices there will be point to point movement upward and right along the existing supply curve for ice cream. the entire supply curve for ice cream will shift to the left. there will be point to point movement downward and left along the existing supply curve for ice cream. the entire supply curve for ice cream will shift to the right

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