A cold spell in Florida extensively reduced the orange crop, and as a result, California oranges commanded a higher price. Which of the following statements best explains the situation?
a. The supply of Florida oranges fell, causing the supply of California oranges to increase as well as their price.
b. The supply of Florida oranges fell, causing the supply of California oranges to decrease and their price to increase.
c. The supply of Florida oranges fell, causing their price to increase and the demand for California oranges to increase.
d. The demand for Florida oranges was reduced by the freeze, causing an increase in the price of California oranges and a greater demand for them.
C
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The Bureau of Labor Statistics releases its employment report
a. on the first Friday of every month. b. on the first Friday of every quarter. c. once every four months. d. on the first Friday every two months. e. once every six months.
Income is more unequally distributed:
a. than wealth b. today than it was 40 years ago c. at a point in time than over the course of a lifetime d. both b. and c.