A Freeze in Florida Devastates the Orange Crop at the Same

question 45

Multiple Choice

A freeze in Florida devastates the orange crop at the same time a new study is released showing the health benefits of vitamin C (leading consumers to want to buy more orange juice) . How will the equilibrium price and quantity of orange juice change in response to the combination of these two events?

• A) Equilibrium quantity will decrease, equilibrium price will increase.
• B) Equilibrium price will decrease, the effect on quantity is ambiguous.
• C) Equilibrium price will increase, the effect on quantity is ambiguous.
• D) Equilibrium quantity will increase, the effect on price is ambiguous.

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Definitions:

Endosperm

A nutrient-rich tissue formed during seed development, providing sustenance to the developing embryo in angiosperm plants.

Embryonic Development

The process by which an embryo forms and develops, from fertilization to the fetal stage.

Eudicots

A major group of flowering plants characterized by having two cotyledons in their seedlings, net-veined leaves, and floral organs typically in multiples of four or five.

Torpedo Stage

A stage in plant embryo development characterized by the elongation of the embryo body, resembling the shape of a torpedo.