Multiple Choice
A freeze that destroys all of the Florida orange crop would result in
A) a lower price for orange juice as people will switch to Texas grapefruit juice
B) a higher price for orange juice as people demand more orange juice
C) no change in the price for orange juice
D) a higher price for orange juice due to the decrease in supply of oranges
E) a higher price for orange juice due to the increase in demand for oranges
Correct Answer:
Verified
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