2022-SZ-OL-MGE1201 Economics for Business Question 3 3.1 \"M Vat Price answered per unit Marked out of 5.00 V Flag question 0 Q,=100 Qty/period Assuming better than usual weather and soil conditions perfect for grapes cultivation and wine growers in Australia, use the above demand supply model to predict what will happen to the demand and/or supply curve, whether a temporary surplus or shortage of wine will result and what will be the new equilibrium price and quantity of wine. (5 marks) Tub BUSINESS> 11 CLASS (4B) INDIV TEST ON 9 OCT @WK 12 CLASS> TH YOUR CAMERA TURNED ON. 2022-$2-OL-MGE1201 Economics for Business Question 4 4.1 Not yet Below is an extract from the case study: answered In the Australian market, VWC sells its wine through arrangements with bottle shops in Australia's cities and rural Marked out of towns. Selected brands are sold exclusively through its winery and from its wine tasting and wine tour events. 5.00 ..... VWC wines have been exported to the traditional markets of Europe and USA and more recently to China and some Flag question of the developing countries in Asia with in-roads made in South Korea. Describe how a stronger Australian Dollar (A$) will affect VWC in the following areas: . Its competitive position in Australia compared to wine imported from France. . Its competitive position overseas compared to wine from other wine growing countries