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MAXImum [283]
3 years ago
15

Due to ideal growing conditions in New Zealand vineyards and an overabundance of​ grapes, the price of Sauvignon Blanc wine decr

eases 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.
Business
1 answer:
fomenos3 years ago
3 0

Answer: C.The quantity demanded will increase

Explanation: Change in the demand occurs due to a change in factors affecting demand other than the price. While, a change in quantity demanded occurs due to a change in the price of the product other things constant.

As price of Sauvignon Blanc wine decreases dramatically the <em>quantity demanded</em> for Sauvignon Blanc wine must increase. Thus, the correct option is Quantity demanded will increase.

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Calvin loves eating at mcdonald's claiming they have the best fries, but when it comes to dessert, he feels he's a cake connoiss
liq [111]

Answer: Cross Shopping

Explanation: Cross shopping is a technique there a single consumer plays around different suppliers to get the goods of his/her liking. It involves having conflicting needs and purchasing premium and budget products. In this case,Calvin loves eating at mcdonald's claiming they have the best fries, but for dessert he likes to eat cakes only at kaminsky's. Since, Calvin is shopping from different suppliers to get the products of his liking his behavior will be called cross shopping.

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3 years ago
You are a financial manager. your assistant tells you that there will be a cash flow gap next month, meaning that cash outflows
sashaice [31]
The answer is greater than cash inflows. The explanation behind this is cash flow gaps happen when cash outflows are greater than cash inflows. Cash flow budgets assist financial managers determine whether the business needs to seek outside sources of funds beyond sales to manage projected cash shortages.
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3 years ago
In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists ten
Brut [27]

Answer:

b. the supply of ivory has fallen, leading to an increase in price and reward for poaching.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

Poaching can be defined as an illegal or illegitimate procurement (purchase) of protected wildlife living organisms such as elephants, fish, trees, gaming, etc.

In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists tend to point out that the supply of ivory has fallen, leading to an increase in price and reward for poaching in accordance with the law of supply.

This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.

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6 0
2 years ago
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Levart [38]
True. Fixed cost per unit is inversely proportional to the volume of units produced.

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5 0
3 years ago
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