What will be the effect (increase or decrease) of the following events on the demand for Bordeaux wine? Briefly explain your answers in words and illustrate them by drawing the supply.r and demand curves. Please make sure that you distinguish between shifts of the demand curve and movements along the demand curve. A decrease in the price of Bordeaux wine. A new study linking longevity with moderate amounts of wine consumption. An increase in the price of Toscana wine. A severe drought in the Bordeaux region of France. Eli-953'!\