Which of the Following Events Would Cause the Price of Oranges

question 67

Multiple Choice

Which of the following events would cause the price of oranges to fall?

• A)There is a shortage of oranges.
• B)The FDA announces that bananas cause strokes,and oranges and bananas are substitutes.
• C)The price of land throughout Florida decreases,and Florida produces a significant proportion of the nation's oranges.
• D)All of the above are correct.

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Definitions:

Delicatessen

A store or section of a grocery store selling cured meats, cheese, and other specialty food items.

Inelastic Demand

A situation where the demand for a product does not change significantly with a change in its price.

Gasoline

A volatile, flammable liquid derived from petroleum, used primarily as fuel in internal combustion engines.

Sushi

A traditional Japanese dish consisting of vinegared rice, usually accompanied by various ingredients like seafood, vegetables, and occasionally tropical fruits.