Supply and demand of a winery
1. Suppose
you are the manager of a California winery. How would you expect the following
events to affect the demand and/or the quantity demanded for your product?
Briefly explain.
a. The price
of comparable French wines decreases.
b. One
hundred new wineries open in California.
c. The
unemployment rate in the US decreases.
d. The price
of cheese increases.
e. The price
of a glass bottle increases significantly due to new government anti-shatter
regulations.
f. Researchers
discover a new wine-making technology that reduces production costs.
g. The price
of wine vinegar, which is made from the leftover grape mash, increases.
h. The
average age of consumers increases, and older people drink less wine.
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