Red wine has just been found to increase your expected life span by 5 years if you eat it every day. In the market for red wine, this information will lead to
A) an increase in price and a decrease in quantity.
B) an increase in price and an increase in quantity.
C) a decrease in price and a decrease in quantity.
D) a decrease in price and an increase in quantity.

Question

Quizplus · Accepted Answer

The increase in demand for red wine due to the newfound health benefits will lead to an increase in both price and quantity as suppliers try to meet the higher demand.

Red Wine Has Just Been Found to Increase Your Expected