If a Freeze Destroys Oranges Before They Are Harvested,the Equilibrium

question 203

Multiple Choice

If a freeze destroys oranges before they are harvested,the equilibrium price of an orange ________ and the equilibrium quantity ________.

• A) rises; increases
• B) rises; decreases
• C) falls; increases
• D) falls; decreases
• E) does not change; decreases

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Definitions:

Discharged

Refers to the release or termination of a legal duty, obligation, or debt.

Discharge

The completion, termination, or fulfillment of a legal obligation or duty, such as the discharge of a debt or the formal dismissal of an employee.

Debtor

An individual or organization that owes money or services to another entity, known as the creditor.

Bankruptcy

A legal proceeding involving a person or business that is unable to repay their outstanding debts, allowing for the liquidation or reorganization of assets to pay off creditors.