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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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in order to compare the price of gasoline in the 1970s with the price in any other year, you have to adjust for
jok3333 [9.3K]

Answer:

Overall Inflation

Explanation:

In order to compare prices of any good at two different years, you should always adjust for overall inflation. Inflation is the overall increase in value of goods over a period, which means that a unit of currency buys less goods at the current year than it did at the previous year.

7 0
3 years ago
uan Pablo and Zak are competitors in a local market. Each is trying to decide if it is better to advertise on TV, on radio, or n
Colt1911 [192]

Answer: Advertise on radio and earn $14,000

Explanation: Dominant strategy may be explained as the tactics or option which works best for a particular firm and seems to give the firm an edge abive other competitors.

Since both are following their dominant strategy, even though advertising on TV seems more lucrative if only one of the advertise, by the time both of them place TV advert, profit falls to $8000. therefore the strategy who gives the highest return when both thread the same advertising path is the radio advert, which gives a return profit of $14,000. Therfore, Uan Pablo should advertise on radio and earn a profit of $14000

6 0
3 years ago
When we say that a firm is a price taker, we are indicating that the Group of answer choices firm takes the price established in
Zina [86]

Answer:

firm can change output levels without having any significant effect on price.

Explanation:

In the case when we say that the firm is a price taker that means the firm has the power to change the level of an output but this does not have any kind of impact on the price. They accepted the price for the prevailing market and each unit could be sold at the similar market price. It could impact the market price also they enjoy the pricing power

Therefore the above statement should be considered

5 0
3 years ago
Which one of the following types of charitable contributions is NOT deductible for federal income tax purposes?
Fofino [41]

Answer: B.

Explanation: Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible.

3 0
2 years ago
An increase in the quantity supplied can result from
QveST [7]
The only factor that can cause a change in quantity supplied is price, so increase in Qs results from a change in supply price.
4 0
3 years ago
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