Suppose that the state of Oklahoma passes a law that makes
it legal for wine producers from inside the state and from other states to
directly mail bottles and cases of wine to individuals in the state of
Oklahoma. This will make it
possible for hundreds of producers to have access to customers that they had
never had access to before and customers will have access to hundreds of new
producers. Assume that wine has
many close substitutes and the markets can adjust quite quickly.Illustrate graphically (reasonable sized graphs. Use the ones
presented in the textbook as a size guideline) and discuss the affects that
this will have on the market for wine in Oklahoma.