Problem: Suppose you are the manager of a California winery. How would you expect the following events to affect the demand and/or the quantity demanded for your product? Briefly explain.
1. The price of comparable French wines decreases.
2. One hundred new wineries open in California.
3. The unemployment rate in the US decreases.
4. The price of cheese increases.
5. The price of a glass bottle increases significantly due to new government anti-shatter regulations.
6. Researchers discover a new wine-making technology that reduces production costs.
7. The price of wine vinegar, which is made from the leftover grape mash, increases.
8. The average age of consumers increases, and older people drink less wine.