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I need help on these 2 micro questions: Question 8 (4 points) When the price of an input that is used in the production of
I need help on these 2 micro questions:
Question 8 (4 points) When the price of an input that is used in the production of some good falls, 0 None of the above 0 The supply curve for this good shifts to the right and there is a movement downward along the demand curve. 0 The demand curve for this good shifts up and there is a movement upward along the supply curve. O The demand curve for this good shifts to the left and there is a movement downward along the supply curve. O The supply curve for this good shifts up and there is a movement upward along the demand curve. Question 9 (4 points) Whisky and wine are substitutes. Because of severe draught, the supply of wine was hugely affected. Given this information, in which of the following scenarios will the change in the equilibrium quantity of whisky be ambiguous? O Workers working at whisky distilleries recently went on strike and successfully demanded higher wages. O Researchers discover that drinking a cup of whisky everyday reduces the possibility of cardiac diseases by 5%, and the public believes this discovery. 0 Whisky companies expect the price of whisky to fall. O The price of grains, an essential ingredient in whisky, has fallen greatly, reducing the cost of producing whisky greatlyStep by Step Solution
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