Due to ideal growing conditions in the Napa Valley and an overabundance of grapes, the price of Merlot wine decreases dramatically. Which of the following is likely to occur as a result?
A. There will be no changes in supply or demand.
B. The quantity demanded will decrease.
C. The demand will remain constant.
D. The equilibrium price will remain constant, but the market price will increase.
E. The quantity demanded will increase.