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Wine Supplies Napa Valley
An early frost in the vineyards of napa valley would cause?
A. an increase in the supply of wine, decreasing price
B. a decrease in the demand for wine, decreasing price
C. a decrease in the supply of wine, increasing price
D. an increase in the demand for wine, increasing price
Please explain your answer so i can understand the reason and study
C. There woudnt be as many grapes because the frost would ruin them, so there would be a shortage of grapes, and therefore a shortage in wine, and when there is a shortage there will be less of it demanded at a higher price.
All you need to do is draw a simple supply and demand graph. Demand on the left, which is downward sloping and supply on the right which is upward sloping. Where they cross is the equilibrium. The Y axis is Price, and the x axis is quantity. So when grapes decrease, there is less supply of wine, which means that you shift the supply curve to the left. So when supply is less, you have a new equilibrium at a new point on the demand curve, which is above the original equilibrium point .
Sonoma County: San Francisco's Wine Country
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Ideal Home Range Beaujolais Decorative Lantern Candle $10.71 Decorative Lantern burns like a luminary with the beautiful image creating a lantern. Design is printed on with soy-based ink, candle is unscented and dripless. 4.5" tall and 3.5" in diameter. Packaged in attractive gift box.... |
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Napa Valley Stag's Leap District Merlot (Selection Estate) $149.99 A sublime Merlot from the prestigious vineyards of California's Napa Valley, where ideal climate and soil conditions, combined with refined growing and cellaring techniques, allow for consistent high quality treatment of grape varietals. Harvested from the highly regarded Stag's Leap District on the valleys east bench, this Merlot is dry and medium bodied with a soft, supple fruity palate of plums... |
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