Two events occur simultaneously in the market for California wine: Event 1: The price of glass wine bottles falls because strict government regulations on anti-shatter glass containers are abolished by Congress. Event 2: The price of cheese decreases. Using demand and supply analysis predict what is likely to happen to the equilibrium price of California wine and the equilibrium quantity of California wine.1. Demand for California wine increases and supply of California wine decreases, and the impact of these two simultaneous events is to increase equilibrium price while the change in equilibrium quantity is indeterminate.2. Demand for California wine increases and supply of California wine increases, and the impact of these two simultaneous events is to increase equilibrium price and increase equilibrium quantity.3. Demand for California wine decreases and supply of California wine decreases, and the impact of these two simultaneous events is to decrease equilibrium quantity while the change in equilibrium price is indeterminate.4. Demand for California wine increases and supply of California wine increases, and the impact of these two simultaneous events is to increase equilibrium quantity while the change in equilibrium price is indeterminate.5. Demand for California wine decreases and supply of California wine decreases, and the impact of these two simultaneous events is to increase equilibrium price while the change in equilibrium quantity is indeterminate.
Answers: 3
Other questions on the subject: Business
Business, 23.06.2019 16:00, aesmithswhs
On january 1, 2018, wetick optometrists leased diagnostic equipment from southern corp. which had purchased the equipment at a cost of $2,256,342. the lease agreement specifies six annual payments of $490,000 beginning january 1, 2018, the beginning of the lease, and at each december 31 thereafter through 2022. the six-year lease term ending december 31, 2023 (a year after the final payment), is equal to the estimated useful life of the equipment. the contract specifies that lease payments for each year will increase on the basis of the increase in the consumer price index for the year just ended. thus, the first payment will be $490,000, and the second and subsequent payments might be different. the cpi at the beginning of the lease is 120. southern routinely acquires diagnostic equipment for lease to other firms. the interest rate in these financing arrangements is 12%. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) prepare the appropriate journal entries for wetick and southern to record the lease at its beginning.
Answers: 3
Do you know the correct answer?
Two events occur simultaneously in the market for California wine: Event 1: The price of glass wine...
Questions in other subjects:
Mathematics, 29.08.2019 22:10
