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A Severe Freeze Has Once Again Damaged the Florida Orange

Question 2

Multiple Choice

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


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

Correct Answer:

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