Question

wheet
b) suppose a front destroys much
of orange
crop. At the same time, Luppole consumer
Haute Shift towards Orange Juice
would
Expect to hannen to the
Equilibrium
Price and Quantity in
in the Market for orange
Juice ?
we
G

Answer 1

Answer:

At the same time, suppose consumer tastes shift toward orange juice. What would we expect to happen to the equilibrium price and quantity in the market for orange juice? Price will increase; quantity will decrease.

Answer 2

Answer:

At the same time, suppose consumer tastes shift toward orange juice. What would we expect to happen to the equilibrium price and quantity in the market for orange juice? Price will increase; quantity will decrease