Question

An unexpected freeze has damaged the Florida orange crop. As a result orange juice producers will pay more for oranges and ultimately consumers will have to pay more for orange juice at the grocery store. The impact on the market for orange juice will cause which of the following to shift to the left?
a- the supply curve b-both the supply and demand curve c-the demand curve d-the production curve

Answer 1

Answer:

a- the supply curve

Explanation:

When the cost to produce good rises in inventory, the seller will be less willing to deliver that same amount at a particular price and the supply curve will move to the left.

Answer 2

Answer:

The correct answer for the following situation:

An unexpected freeze has damaged the Florida orange crop. As a result orange juice producers will pay more for oranges and ultimately consumers will have to pay more for orange juice at the grocery store. The impact on the market for orange juice will cause which of the following to shift to the left?

Is:

a- the supply curve

Explanation:

A supply curve is a concept to represent graphically the correlation between the cost of a good or a service and the quantity of that good or service supplied in a certain period. In our case the environmental conditions allow the supply to be lower than expected therefore it will be the one that will shift to the left in the graphic.