In Recent Years the Cost of Producing Wines in Canada

question 207

Multiple Choice

In recent years the cost of producing wines in Canada has increased, largely due to rising rent for vineyards.At the same time, an increasing number of Canadians say they prefer wine to beer.Which of the following best explains the effect of these events on the wine market?

• A)The supply curve has shifted to the left and the demand curve has shifted to the right.As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
• B)Both the supply and demand curves have shifted to the right.As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.
• C)Both the supply and demand curves have shifted to the right.As a result, there has been an increase in both the equilibrium price and the equilibrium quantity.
• D)The supply curve has shifted to the left and the demand curve has shifted to the right.As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.

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Definitions:

Heterosexual Women

Women who are romantically and sexually attracted to men.

Dating

The activity of engaging in social outings or relationships with someone with the intention of assessing compatibility, often as a precursor to romantic or sexual relationships.

Stereotypes

Oversimplified and generalized beliefs about a group of people that do not account for individual diversity.

Sexuality

The capacity for sexual feelings, a person's sexual orientation or preference, and the expression of sexual energy or behavior.