A severe freeze has once again damaged the Florida orange crop. The impact on the market for oranges will be a leftward shift in
a. demand as consumers try to economize because of the shortage.
b. both the supply and demand curves.
c. the supply curve.
d. the supply curve and a rightward shift in the demand curve, which will result in a higher price.
c
You might also like to view...
A merger between two firms that have a supplier-purchaser relationship is:
a. horizontal. b. vertical. c. conglomerate. d. illegal. e. inefficient.
Monetarists maintain that
a. the best way to study the economy is with the expenditure schedule. b. control over the money supply implies control over real GDP. c. velocity is not constant, but is fairly predictable. d. All of the above are correct.
Final consumer demand for poultry in the US increases (shifts to the right) if
a) consumer income decreases b) the price of chicken decreases c) the price of beef increases d) the price of pork decreases
If the price of chili increases, there will be ________ of chili cheese fries.
A. an increase in the supply B. a decrease in the quantity supplied C. a decrease in the supply D. an increase in the quantity supplied