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shibu joy shibu joy
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2 years ago
37) Borem is a big fan of wine from Trader Moes. Moe's sells a high-quality expensive wine and a cheap low-quality wine. Borem buys both types but tends to buy more bottles of the cheaper wine. Borem later moves to a new city where he must drive a long distance to get his wine at Trader Moe's. Assuming the income effect is small, and that Borem still buys his wine from Moe's, how is he going to change his relative consumption of the expensive and cheap wines?

38) Bob's winery sells bottles of their expensive, high-quality wine and a cheaper low-quality wine. Visitors have to drive 45 minutes to get to Bob's winery. Bob also sells his wine at a shop in the city where consumers don't have to drive a long distance and charges the same prices. Assuming the preferences of the clients that come to the winery and the city store are the same, explain why Bob tends to sell the expensive wine in a greater proportion in the winery than the urban store.
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2 years ago
37) Borem is a big fan of wine from Trader Moes. Moe's sells a high-quality expensive wine and a cheap low-quality wine. Borem buys both types but tends to buy more bottles of the cheaper wine. Borem later moves to a new city where he must drive a long distance to get his wine at Trader Moe's. Assuming the income effect is small, and that Borem still buys his wine from Moe's, how is he going to change his relative consumption of the expensive and cheap wines?

https://biology-forums.com/index.php?topic=807321.0

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38) Bob's winery sells bottles of their expensive, high-quality wine and a cheaper low-quality wine. Visitors have to drive 45 minutes to get to Bob's winery. Bob also sells his wine at a shop in the city where consumers don't have to drive a long distance and charges the same prices. Assuming the preferences of the clients that come to the winery and the city store are the same, explain why Bob tends to sell the expensive wine in a greater proportion in the winery than the urban store.

https://biology-forums.com/index.php?topic=807322.0
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