Use the following to answer question(s) : Demand and Supply-Determinants
-(Exhibit: Demand and Supply-Determinants) The exhibit shows how supply and demand might shift in response to specific events.Suppose a fall frost destroys one-third of the nation's grapefruit crop.Which panel best describes how this will affect the market for Vitamin B-12 tablets, which are a substitute for grapefruit?
Definitions:
Variable
An element, feature, or factor that is likely to vary or change.
Observations
Data collected or measured during an experiment or survey.
Measurements
Measurements refer to the size, length, or amount of something, determined through quantitative comparison with a standard unit.
Element
A fundamental or essential constituent of a composite entity; in contexts like chemistry, an element is a substance that cannot be broken down into simpler substances by chemical means.
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