Suppose a Price Floor on Sparkling Wine Is Proposed by the Health

question 139

Multiple Choice

Suppose a price floor on sparkling wine is proposed by the Health Minister of the country of Vinyardia.What will be the likely effect on the market for sparkling wine in Vinyardia?

• A)Quantity demanded will decrease, quantity supplied will increase, and a surplus will result.
• B)Quantity demanded will increase, quantity supplied will decrease, and a surplus will result.
• C)Quantity demanded will decrease, quantity supplied will increase, and a shortage will result.
• D)Quantity demanded will increase, quantity supplied will decrease, and a shortage will result.

---

Definitions:

Kant

Immanuel Kant, an 18th-century German philosopher known for his work in epistemology, ethics, and aesthetics, particularly his formulation of the categorical imperative and contributions to deontological ethics.

Healthcare

The organized provision of medical care to individuals or a community, including preventive, curative, and palliative services.

Ross's

Refers to W.D. Ross's ethical theory, which emphasizes prima facie duties such as fidelity, reparation, and justice as a basis for moral obligations.

Rawls's

Pertaining to the ideas or theories of John Rawls, a philosopher known for his work on justice and political liberalism.