22) Consider the market for grapes. Suppose that there is bad weather in Califor

Q: 22) Consider the market for grapes. Suppose that there is bad weather in Califor

Answer is a) Quantity will decrease and price will increase. As due to bad weather condition, the farmers are not able to produce as many grapes as usual, so the quantity will decrease. And at the same time, wages for worker who pick grapes increases. So the cost will increase, which increases the price of grapes.

ID: 1142738 • Letter: 2

Question

22) Consider the market for grapes. Suppose that there is bad weather in California and farmers are not able to produce as many grapes as usual. Also, at the same time, wages for the workers who pick grapes increase. What will happen to the equilibrium quantity and price in the market for grapes? a) Quantity will decrease and price will increase. Page 10 Econ 52151-Fall 2018 b) Quantity will decrease and price will decrease c) Quantity will decrease and the effect on price is indeterminate d) Price will increase and the effect on quantity is indeterminate.

Explanation / Answer

Answer is a) Quantity will decrease and price will increase. As due to bad weather condition, the farmers are not able to produce as many grapes as usual, so the quantity will decrease. And at the same time, wages for worker who pick grapes increases. So the cost will increase, which increases the price of grapes.

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22) Consider the market for grapes. Suppose that there is bad weather in Califor

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