There are about 400 wineries in California's Napa Valley. Suppose the owner of one of the wineries-Jerry's Wine Emporium-raises the price of his wine by $5.00 per bottle. If the industry is perfectly competitive, the reaction of consumer would be to
a) buy more of jerry's wine
b) buy some, but less of, jerry's wine
c) buy wine from another winery
d) stop drinking wine
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