"Because of unseasonable cold weather, much of the peach crop has been destroyed." This statement indicates that the:
A) price of peaches will fall.
B) quantity of peaches that will be available at any given price has decreased.
C) demand for peaches will shift to the left.
D) quantity of peaches that will be available at any given price have increased.

Question

Quizplus · Accepted Answer

The statement indicates that a portion of the peach crop has been destroyed due to unseasonable cold weather. This means that there will be less of a supply of peaches available, which will lead to a decrease in the quantity of peaches available at any given price (decrease in supply). This will cause the price of peaches to increase, not fall. Demand for peaches is not being affected by the cold weather.

"Because of Unseasonable Cold Weather, Much of the Peach Crop