One HEADLINE article in the text, "Bitter Florida cold drives up orange juice prices," describes the impact of a freeze on Flori
da crops. What will happen to the equilibrium quantity of citrus crops if the supply decreases?
1 answer:
Answer:
The equilibrium quantity will decrease
Explanation:
There will be a reduction in the supply of citrus crops and also reduction in orange juice produces from these fruits.
A shift in supply to the left will occur as a result of the cold. This will also result in reduction in equilibrium quantity demanded.
This is illustrated bin the attached diagram
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