You love grapes. You hear on the news that 50% of the world's grape crop has been wiped out because of a virus, which will cause the price to double by the end of the year. What happens as a result?
A) Your demand for grapes will increase at the end of the year.
B) Your demand for grapes increases today.
C) Your demand for grapes falls as you look for a substitute good.
D) Your demand for grapes falls because the price increases today.
Correct Answer:
Verified
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