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Suppose frost destroys a significant part of Okanagan's grape vines (an input for wine production). At the same time, new research shows the health benefits
Suppose frost destroys a significant part of Okanagan's grape vines (an input for wine production). At the same time, new research shows the health benefits of a moderate amount of wine consumption. What would you expect to happen to the equilibrium price and quantity of wine? Assume downward sloping demand and upward sloping supply curve. Group of answer choices Price will increase, but quantity could move in either direction. Both price and quantity will decrease. Both price and quantity could move in either direction. Quantity will decrease, but price could move in either direction
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