Due to ideal growing conditions in New Zealand vineyards and an overabundance of grapes, the price of Sauvignon Blanc wine decreases dramatically. Which of the following is likely to occur as a result?
A.
The quantity demanded will decrease.
B.
The demand will remain constant.
C.
The quantity demanded will increase.
D.
The equilibrium price will remain constant but the market price will increase.
E.
There will be no changes in supply or demand.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Due to ideal growing conditions in New Zealand vineyards and an overabundance of grapes, the price of Sauvignon Blanc wine decreases ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The field of economics that is concerned about the broader issues in the economy such as inflation, unemployment, and national output of goods and services is called: A. Macroeconomics. B. Microeconomics. C. National economics D.
Answers (1)
This problem has been solved! See the answer Molander Corporation is a distributor of a sun umbrella used at resort hotels.
Answers (1)
On October 12 of the current year, a company determined that a customer's account receivable was uncollectible and that the account should be written off.
Answers (1)
If a company doesn't comply with government regulations and is found guilty, it incurs the cost of A. hiring employees. B. planning. C. hiring a legal expert. D. training.
Answers (1)
GAAP identifies several levels of influence/control. If Company One owns 10% of the outstanding voting stock of Company Two, which level of influence/control is in evidence? A. Fair-value method B. Significant Influence C. Control D. Passive E.
Answers (1)
New Questions in Business
On January 2, year 2, Air, Inc. agreed to pay its former president $300,000 under a deferred compensation arrangement. Air should have recorded this expense in year 1 but did not do so.
Answers (1)
A home improvement firm has quoted a price of? $9,800 to fix up? eric's backyard. five years? ago, eric put? $7,500 into a home improvement account that has earned an average of? 5.25% per year.
Answers (1)
A budget surplus a. exists when government spending is greater than tax revenues. b. causes government debt to increase. c. occurs when the government has debt equal to zero. d. reduces the government's debt.
Answers (1)
Monique was looking for a venue for her wedding reception. When she visited one potential location, she noticed that the landscaping was not complete, and there was stained carpet in the lobby.
Answers (1)
A monthly fixed rate mortgage payment--- A. could change. B. never changes. C. increases annually. D. decreases annually.
Answers (1)