Question
1) A recent study suggested that wine drinking may be harmful one's health. If this info leads to an decrease in demand for wine, we
1) A recent study suggested that wine drinking may be harmful one's health. If this info leads to an decrease in demand for wine, we would expect
a) both the price and quantity of wine sold to increase
b) both the price and quantity of wine sold to decrease
c)the price to decrease and the quantity of wine sold to increase
d)the price to increase and quantity of wine sold to decrease
2) Over the next several years, the number of corn producers is expected to decrease. As a result, the market supply or corn will ____________ and the market supply of corn will ________
a) increase; shift right
b) increase; shift left
c) decrease; shift right
d) decrease; shift left
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