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Question: In France, good wine is sold at price equivalent to $12/bottle and a lower quality cheap wine is sold at price equivalent to $6/bottle. It costs $10/bottle to ship French wine to British Columbia.
a. Who would you expect to drink more French wine, people in France or people in BC? Explain.
b. Who would you expect to drink on average a higher quality French wine, people in France or people in BC? Explain.
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