microeconomics
Posted: Sun Jun 05, 2022 11:41 am
microeconomics
Price D C 55 05 8 B Quantity The graph in this figure illustrates an initial equilibrium in the market for New Zealand wine at the intersection of D1 and S1. Which of the following changes would cause the equilibrium to change to point 4? a) a positive change in the technology used to produce wine and an increase in the price of Nova Scotia wine, a substitute for New Zealand wine b) an increase in the number of New Zealand wine producers and a decrease in the number of New Zealand grapes used to produce wine as a result of disease O c) a positive change in the technology used to produce wine and decrease in the price of Nova Scotia wine, a substitute for New Zealand wine. d) an increase in the wages of wine makers and decrease in the price of Nova Scotia wine, a substitute for New Zealand wine. O e) a positive change in the technology used to produce wine and a decrease in household income, New Zealand wine is a normal good.
Refer to the diagram below to answer the following questions. Price $ D C 4 50 B 8 Quantity The graph in this figure illustrates an initial equilibrium in the market for New Zealand wine at the intersection of D1 and So. Which of the following changes would cause the equilibrium to change to point C? O a) an increase in the wages of New Zealand wine makers and an decrease in the price of New Zealand cheese, a complement to New Zealand wine O b) an increase in the number of New Zealand wine producers and a decrease in the number of grapes used to produce wine as a result of disease c) a positive change in the technology used to produce grapes in New Zealand and decrease in the price of Nova Scotia wine, a substitute for New Zealand wine d) a decrease in the wages of New Zealand wine makers and an increase in the price of Nova Scotia wine, a substitute for New Zealand wine e) an increase in the wages of New Zealand wine makers and a decrease in the price of Nova Scotia wine, a substitute for New Zealand wine
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Refer to the diagram below to answer the following questions. Price $ D C 4 50 B 8 Quantity The graph in this figure illustrates an initial equilibrium in the market for New Zealand wine at the intersection of D1 and So. Which of the following changes would cause the equilibrium to change to point C? O a) an increase in the wages of New Zealand wine makers and an decrease in the price of New Zealand cheese, a complement to New Zealand wine O b) an increase in the number of New Zealand wine producers and a decrease in the number of grapes used to produce wine as a result of disease c) a positive change in the technology used to produce grapes in New Zealand and decrease in the price of Nova Scotia wine, a substitute for New Zealand wine d) a decrease in the wages of New Zealand wine makers and an increase in the price of Nova Scotia wine, a substitute for New Zealand wine e) an increase in the wages of New Zealand wine makers and a decrease in the price of Nova Scotia wine, a substitute for New Zealand wine