
In 2004, hurricanes damaged a large portion of Florida's orange crop.As a result of this, many orange growers were not able to supply fruit to the market.If, following the hurricane, the price remained at its pre-hurricane level, we would expect to see
A) a surplus of oranges.
B) the quantity demanded equal to the quantity supplied.
C) a shortage of oranges.
D) an increase in the demand for oranges.
Correct Answer:
Verified
Q122: Figure 3-4 Q123: Figure 3-5 Q124: Figure 3-4 Q125: At a product's equilibrium price Q126: An increase in the price of inputs Q128: Explain the differences between a change in Q129: Figure 3-4 Q130: All else equal, as the price of Q131: Figure 3-3 Q132: A decrease in quantity supplied is represented Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the product's demand