Business, 12.12.2019 06:31 hannahkharel2

Prices of california merlot wine (assume that this is a normal good) have risen steadily in recent years. over this same period, prices for french oak barrels used for wine storage have dropped and consumer incomes have risen. which of the following best explains the rising prices of california merlots ?

a) the demand curve for merlot has shifted to the right faster than the supply curve has shifted to the right

b) the supply curve for merlot has shifted to the right faster than the demand curve has shifted to the right

c) the demand curve and the supply curve for merlot have both shifted to the lefft

d) the supply curve for merlot has shifted to the right while the demand curve for merlot has shifted to the left

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Prices of california merlot wine (assume that this is a normal good) have risen steadily in recent y...