Murphy's Ice Cream

What is a factor that led to a decrease in demand for murphy’s ice cream

• Increase in income

• Increase in consumers

• Change in taste and preference toward artisan food

• Increase in substitutes

What is a factor that led to a decrease in supply for murphy’s ice cream

• Increase in factor of production availability

• Technological advancements

• Palm oil export ban from Indonesia

• Supply chain improvements

What type of good is murphy’s ice cream

• Normal Good

• Inferior Good

• Luxury Good

• Giffen Good

Why is Murphy’s ice cream considered a luxury?

• Higher Price Point

• Luxurious Name

• Local Ice Cream delight

• Interesting Flavours

How has the supply chain disruption affected murphy’s ice cream?

• Cheaper Transportation Cost

• Shortage of raw materials

• Longer wait times

• Lack of storage space