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HFC-Online Student Services Communications· Are You Ready for Online? Dashboard > My courses > 18/wI BEC-151-97 > Part 2: Market Fundamentals and GDP (due Feb. 1) > PA Question 25 Not yet answered Points out of 1.0 An early frost in the vineyards of Napa Valley would cause ap: Select one O a. decrease in the supply of wine, increasing price. O b. decrease in the demand for wine, decreasing price. O c. increase in the supply of wine, decreasing price. O d. increase in the demand for wine, increasing price. Question 26 P Flag question Not yet answered Points out of 1.0

Explanation / Answer

(I) A decrease in the supply of wine, increasing price.

(Early frost destroys the vineyard thereby decreasing the production vine-bearing grapes. This would eventually fall short of production plans raising prices of wines)

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