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Figure: Shifts in Demand and Supply II
-(Figure: Shifts in Demand and Supply II) Look at the figure Shifts in Demand and Supply II. The graph 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 B12 tablets, which are a substitute in consumption for grapefruit?
Shares
Units of ownership in a company, representing a portion of the corporation's capital, entitling the shareholder to a part of the profits.
Public Corporation
A company whose shares are publicly traded on a stock exchange, subject to regulatory scrutiny.
Proprietorship
A form of business organization owned by a single person who is responsible for its operations and entitled to its profits.
Barber Shop
A place of business that offers men hair cutting, grooming, and often, shaving services.
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