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The market for oranges is in equilibrium. Now suppose that acold snap hits Florida, and...

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Economics

The market for oranges is in equilibrium. Now suppose that acold snap hits Florida, and at the same time a new research showsthat eating oranges reduces risk of heart disease. What will be theeffect of these changes on the equilibrium price and quantity inorange market? Multiple Choice Price will increase, and quantitywill increase. Price will decrease, and quantity will increase.Price will increase, and effect on quantity is ambiguous. Quantitywill decrease, and effect on price is ambiguous. Prev 16 of 50Next

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