Use the following to answer question(s): The Determinants of Demand and Supply

-(Exhibit: The Determinants of Demand and Supply) The exhibit shows how supply and demand might shift in response to specific events.Suppose a fall frost destroys one-third of the nation's orange crop.Which panel best describes how this will affect the market for Vitamin C tablets, which are a substitute for oranges?

Question

Use the following to answer question(s): The Determinants of Demand and Supply
 
-(Exhibit: The Determinants of Demand and Supply) The exhibit shows how supply and demand might shift in response to specific events.Suppose a fall frost destroys one-third of the nation's orange crop.Which panel best describes how this will affect the market for Vitamin C tablets, which are a substitute for oranges?

Quizplus · Accepted Answer

Panel (c) illustrates an increase in demand with the supply remaining constant. Since Vitamin C tablets are a substitute for oranges, the destruction of a significant portion of the orange crop would likely lead to an increased demand for Vitamin C tablets as consumers look for alternative sources of Vitamin C.

Use the Following to Answer Question(s): the Determinants of Demand