The most common reason for the existence of oligopolies is

Suppose a frost destroys much of the Florida orange crop. 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?

a. Price will increase; quantity is ambiguous b. Price will increase; quantity will increase c. Price will increase; quantity will decrease d. Price will decrease; quantity is ambiguous e. The impact on both sides is ambiguous

What is the relationship between economic development and the political institutions of democracy?

What will be an ideal response?