ssions Assignments Quizzes Grades Class Progress Course Evaluations apter 3 Frey

Question

ssions Assignments Quizzes Grades Class Progress Course Evaluations apter 3 Freya Zhang: Attempt 1 ved Question 6 (1 point) The population of drinking age increases; also, brewery unions negotiate a big increase in wages. What is the effect on 1. demand, 2. supply. 3. price and 4. quantity respectively, in the beer market? (I suggest you draw a small graph in order to answer this question) 1. increases, 2. decreases, 3. increases, 4. uncertain 1. decreases, 2. decreases, 3. decreases, 4. uncertairn O 1. increases, 2. decreases, 3.increases, 4. decreases 1. increases, 2. uncertain, 3. uncertain, 4. uncertain 1. increases, 2. decreases, 3. increases, 4. increases ed Save

Explanation / Answer

Due to increase in working age Increases, demand increases and shifts to the right.

Due to trade union, wages increases due to which supply decreases.

Demand shift to the right and supply shift to the left, price will definitely increases but quantity is uncertain

Ans is A

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