$16 $14 $12 $10 $8 D2 $6 $4 D1 $2 $0 100 200 300 400 500 Quantity The diagram above shows the market for table wine. Which of the following changes could have caused the shift from D1 to D2 shown in the diagram? Select one: а. Wine is a normal good and incomes decreased. O b. Wine and beer are substitutes, and the price of beer decreased. O c. The price of grapes (an input used by wine producers)increased. d. Wine and cheese are complements, and the price of cheese decreased. Price
$16 $14 $12 $10 $8 D2 $6 $4 D1 $2 $0 100 200 300 400 500 Quantity The diagram above shows the market for table wine. Which of the following changes could have caused the shift from D1 to D2 shown in the diagram? Select one: а. Wine is a normal good and incomes decreased. O b. Wine and beer are substitutes, and the price of beer decreased. O c. The price of grapes (an input used by wine producers)increased. d. Wine and cheese are complements, and the price of cheese decreased. Price
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 3SCQ: In an analysis of the market for paint, an economist discovers the facts listed below. State whether...
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Question
![42
$16
$14
$12
i of
$10
$8
D2
$6
$4
D1
$2
$0
100
200
300
400
500
Quantity
The diagram above shows the market for table wine. Which of the following changes could have caused the shift from D1 to D2 shown in
the diagram?
Select one:
a. Wine is a normal good and incomes decreased.
b. Wine and beer are substitutes, and the price of beer decreased.
c. The price of grapes (an input used by wine producers)increased.
d. Wine and cheese are complements, and the price of cheese decreased.
Price](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F193714d8-3c10-4709-93ec-78d72c25a76b%2F92219d48-95bd-4454-870b-bec213f5cbe1%2Fqj0ptm_processed.png&w=3840&q=75)
Transcribed Image Text:42
$16
$14
$12
i of
$10
$8
D2
$6
$4
D1
$2
$0
100
200
300
400
500
Quantity
The diagram above shows the market for table wine. Which of the following changes could have caused the shift from D1 to D2 shown in
the diagram?
Select one:
a. Wine is a normal good and incomes decreased.
b. Wine and beer are substitutes, and the price of beer decreased.
c. The price of grapes (an input used by wine producers)increased.
d. Wine and cheese are complements, and the price of cheese decreased.
Price
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