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Suppose there is a competitive market for red wine in which there are many buyers and producers. An influential study is released providing evidence that drinking red wine lowers the risk of heart disease. At the same time, an earthquake in northern California destroys a quarter of all wine inventories. Holding all else constant, what happens to the equilibrium quantity of wine?
a. It increases b. It decreases c. It does not change d. All of the above answers are possible
Sagot :
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