In the orange market, what impact would an increase in the price of oil that orange growers burn to keep oranges from freezing in the winter have on the market?
A) It would shift the supply curve to the right.
B) It would shift the supply curve to the left.
C) It would shift the demand curve to the left.
D) It would shift the demand curve to the right.

Question

Quizplus · Accepted Answer

An increase in the price of oil raises production costs for orange growers, reducing supply and shifting the supply curve to the left.

In the Orange Market, What Impact Would an Increase in the Price