Question
1. Cheese and red wine are complements because they are often enjoyed together. When the price of red wine rises, what happens to: (9 points)
1. Cheese and red wine are complements because they are often enjoyed together. When the price of red wine rises, what happens to: (9 points) CIRCLE THE CORRECT ANSWER
(a) the demand curve for red wine (shift to the right or the left or neither) (b) the supply curve for red wine (shift to the right or the left or neither) (c ) quantity demanded for red wine (increase, decrease, or no change) (d) the demand curve for cheese (shift to the right or the left or neither) (e) the supply curve for cheese (shift to the right or the left or neither)
(f) quantity demanded for cheese (increase, decrease, or no change) (g) quantity supply for cheese (increase, decrease, or no change) (h) equilibrium price of cheese (increase, decrease, or no change) (i) equilibrium quantity of cheese (increase, decrease, or no change)
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