Question

The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to

Answer 1

The answer is Inflation.

Step-by-step explanation:

Inflation is when the price of goods or services increases, which means your money doesn’t buy as much. It’s when the prices of goods and services increase, or inflates.

Therefore, the increase of the price of a gallon of milk is due to inflation.

Answer 2

This question is very broad. It could be attributable to several factors, but mostly the increase in production costs.

Production costs could be transportation, resources, food, rent, basically anything that would go into making a product.