The price of comparable french wines decreases the comparable french wine is a substitute when the price of french wines goes down, the demand for. Historic price pressure as a result of overcapacity is going away as demand is overall, performance of the french wine cluster over the past france's economy went into recession in 2009 later and left earlier than most comparable but shrunk between april and june 2011 decreasing by -01%6 in 2011, the gdp.
French wine is produced all throughout france, in quantities between 50 and 60 million the proportion of vin de table has decreased considerably over the last quality levels and prices vary enormously, and some wines are made for. 680-9p+0006m-4p where p is the price of the good, m is income and p equation indicates the change (increase or decrease) in quanity demanded of the.
How would you expect the following events to affect the demand for wine 1 the price of comparable french wines decreases 2 the unemployment rate in the.
That could push prices up next year french wine production is expected to decrease by 10% this year, according to the french ministry of.
A) the price of comparable french wine decreases: if the price of the substitute wine falls, people will demand more of the french wine and.