Question: 5. What effect will the following changes have on (i) the demand for, (ii) the price of, and (iii) the quantity traded of commercially brewed

5. What effect will the following changes have on (i) the demand for, (ii) the price of, and (iii) the quantity traded of commercially brewed beer?

a) a new medical report affirming the beneficial health effects of drinking beer (in moderation, of course)

b) a big decrease in the price of home-brewing kits

c) a rapid increase in population

d) talk of a strike by brewery workers

e) a possible future recession

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