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.

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Definitions:

Psychology

The discipline concerned with behavior and mental processes and how they are affected by an organism’s physical state, mental state, and external environment; the term is often represented by Ψ, the Greek letter psi (usually pronounced “sy”).

Conditional Positive Regard

Acceptance and love that are contingent upon a person's behavior, often used in the context of interpersonal relationships and self-esteem.

Carl Rogers

An influential American psychologist who founded the humanistic approach to psychology, emphasizing the importance of self-actualization, empathy, and unconditional positive regard in therapy.

Unconscious Personality

Aspects of an individual's personality that are not within their conscious awareness but influence behaviors and thoughts.