Assume That Microbrewery Beer Is a Normal Good

question 43

Multiple Choice

Assume that microbrewery beer is a normal good.Prices of microbrewery beer have risen steadily in recent years.Over this same period, prices for fermenting vats used in beer making have also risen and consumer incomes have fallen.Which of the following best explains the rising prices of microbrewery beer?

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

Understand the implications of strategic decisions in real-world scenarios.

Understand Janusian thinking and methods to stimulate such thinking.

Recognize the components and significance of Finke's Four Factor model of creativity.

Grasp the distinction between flexibility and fluency of ideas in creativity exercises.

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Definitions:

Advertising Campaign

A series of advertisement messages that share a single idea and theme which make up an integrated marketing communication.

Cash

A form of current asset representing currency or currency equivalents that can be accessed immediately or near-immediately.

Adjusting Entries

Journal entries made in accounting to update record balances before preparing financial statements, ensuring accuracy of the accounting records.

Accounts

Records within accounting that track financial transactions categorized by type, such as assets, liabilities, equity, revenue, and expenses.