Question

The price of ice-cream increases, which will most likely _____ the demand for ice-cream cones.

increase
decrease
keep constant

Answer 1

Decrease the demand.
Price and demand are generally inversely related, meaning that if the price drops then the demand will increase, and vice versa.

Answer 2

if the price of the ice-cream increases then the the demand of the ice-cream cone decreases.

Explanation:

The price of ice-cream is said to be increased :

Increase in price is inversely proportional to its demand

Therefore, if the price of ice-cream increases then the demand for ice-cream decreases.

This is based on the fact that the people prefer to eat or consume more things which are lesser in price. On the other hand the things which have higher prices are consumed less.

Hence, if the price of the ice-cream increases then the the demand of the ice-cream cone decreases.