A Severe Freeze Has Once Again Damaged the Florida Orange

question 194

Multiple Choice

A severe freeze has once again damaged the Florida orange crop. The impact on the market for oranges will be a leftward shift of:

• A)​the demand curve, as consumers try to economize because of the shortage.
• B)​the demand curve and a rightward shift of the supply curve.
• C)​the supply curve.
• D)​the supply curve and a rightward shift of the demand curve, resulting in a higher equilibrium price.

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