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 : Calls of negative income tax Negative

Negative income tax proposals call for: (w) paying $1 in taxes on every dollar of transfer payments. (x) reducing welfare benefits by levying higher income taxes. (y) instituting consistent work incentives for welfare recipients. (z) establishing a ne

Q : Price elasticity beside horizontal

Hey FRIEND I need your help for query as given below: The price elasticity beside a horizontal demand curve is constant at: (w) zero. (x) infinity. (y) 1. (z) -1. Can someone ex

Q : Federal government antitrust suit Movie

Movie producers A, B, and C secretly meet and agree to release their summer blockbuster films in sequence, rather than at the same time. The U.S. Justice Department learns of the agreement and files an antitrust suit. The Federal government would most likely file ch

Q : Consumer behaviour Graphical

Graphical representation of relationship between MPC and multiplier?

Q : Size Distribution of Income The degree

The degree of inequality of income in between households and individuals is the: (w) marginal productivity theory of income distribution. (x) functional distribution of income. (y) distribution of wealth. (z) size distribution of income.

Q : Example of predatory behavior Assume

Assume that a new Wal-Mart is built just outside a small town, and also Wal-Mart aggressively cuts prices therefore much that the rivals close their doors. In that case, once its rivals exit the market, the Wal-Mart raises prices significantly. Wal-Ma

Q : Elasticity of supply when price hike

When a $5 price hike raises the number of tanks of dehydrated water supplied in this market from point e to point f, the elasticity of supply: (i) 2.333. (ii) 2.000. (iii) 1.667. (iv) 1.333. (v) 0.600. How can I so

Q : Interest rates of business investors in

The interest rates business investors into economic capital should pay on a loan: (w) reflect the opportunity costs to society of funding one investment in place of another. (x) are relatively trivial investment costs by investors&rsq

Q : Problem regarding Wage Discrimination I

I have a problem in economics on Problem regarding Wage Discrimination. Please help me in the following question. The economic term applied if equally productive workers are paid various wages is: (i) Wage discrimination. (ii) Racism. (iii) Employment

Q : Find price elasticity of demand for

Suppose yearly steel sales double to 80 million tons while the price falls $40 per ton, to $180 per ton. Therefore price elasticity of demand for steel is approximately: (w) 3.333. (x) 10.000. (y) 2.500. (z) 6.667.

Discover Q & A

Leading Solution Library

Avail More Than 1445471 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1930343
Asked

3,689

Active Tutors

1445471

Questions
Answered

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

Submit Assignment