Demand and Supply-Production to double

When Mary usually quaffs three glasses of Lost Horizons Cabernet Sauvignon every day, her demand for her favorite vintage will be least probable affected by: (i) The plague of grape worms ruining the bouquet of Lost Horizons Cabernet (ii) Receiving a $2 an hour pay hike. (iii) The high price cut for Cloudy Head Cabernet, an identical wine. (iv) Lost Horizons buying the other vineyard, permitting production to double.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Shutdown level of output for a purely

For a purely competitive firm the shutdown level of output arises where is: (w) total revenue barely covers total fixed costs. (x) market price just equals the minimum of its AVC curve. (y) total revenue equals total cost as (PQ = TFC + TVC). (z) pric

Q : Relationship between MPP and TPP If MPP

If MPP is zero, what can you state regarding TPP? Answer: TPP is at its maximum.

Q : Marginal revenue with price discriminate

For any firm along with some degree of market power but that cannot price discriminate, the price is: (w) constant along the demand curve. (x) identical with marginal revenue. (y) greater than marginal revenue. (z) less than marginal revenue.

Q : Problem on Supply of Labor Can someone

Can someone help me in finding out the right answer from the given options. The time in which people are willing and capable to work at different wage rates throughout a specific period is termed as the: (1) Labor force participation rate. (2) Supply of labor. (3) Mar

Q : Market in terms of economists To

To economists, the noun ‘market’ signifies to: (1) The geographic place where many products are sold. (2) Any institution which enables sellers and buyers to strike bargains. (3) The New York Stock Exchange. (4) Selling goods and resources or stocks and bo

Q : Implicit and explicit economic costs I

I have a problem in economics on Implicit and explicit economic costs. Please help me in the following question. The Economic profit is the difference among total revenue and: (i) The sum of explicit and implicit economic costs. (ii) Accounting cost. (iii) Variable co

Discover Q & A

Leading Solution Library

Avail More Than 1420827 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1944783
Asked

3,689

Active Tutors

1420827

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment