Assume That California Merlot Is a Normal Good

question 34

Multiple Choice

Assume that California Merlot is a normal good.Prices of California Merlot have risen steadily in recent years.Over this same period, prices for French oak barrels used for wine storage have dropped and consumer incomes have risen.Which of the following best explains the rising prices of California Merlots?

• A)The supply curve for Merlot has shifted to the right while the demand curve for Merlot has shifted to the left.
• B)The demand curve for Merlot has shifted to the right more than the supply curve has shifted to the right.
• C)The demand curve and the supply curve for Merlot have both shifted to the left.
• D)The supply curve for Merlot has shifted to the right more than the demand curve has shifted to the right.

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Definitions:

Anticoagulant

A substance that prevents blood from clotting, used in medical treatment to prevent blood clots from forming or growing larger.

Plasma

The liquid component of blood in which blood cells are suspended, consisting mainly of water, proteins, and dissolved substances.

Palpation

The technique of examination using the fingers or hands.

Tourniquet

A tourniquet is a device used to apply pressure to a limb or extremity to restrict blood flow, often in medical emergencies to control bleeding.