If a Frost Suddenly Destroyed a Big Portion of the Orange

question 20

Multiple Choice

If a frost suddenly destroyed a big portion of the orange crop,a good with highly elastic demand,what would be the impact on quantity demanded and price?

• A) Quantity demanded would decrease a lot, and price would decrease.
• B) Quantity demanded would increase a little, and price would remain stable or rise slightly.
• C) Quantity demanded would decrease a little, and price would increase sharply.
• D) Quantity demanded would decrease a lot, and price would remain stable or rise slightly.

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