Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Sublight2097 Sublight2097
wrote...
Go to Answer
Posts: 4132
Rep: 15 0
8 years ago
"The Florida freeze has destroyed 40% of the orange crop. The reduction in supply will increase orange prices, and therefore reduce demand. As demand falls, orange prices will also fall." Is there anything wrong with the above statement?
A) Yes. The freeze would not reduce the supply.
B) Yes. The higher price would not reduce the demand.
C) Yes. It assumes the demand curve for oranges is vertical.
D) Yes. It assumes the demand curve for oranges is upward-sloping.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
Read 234 times
4 Replies
Replies
Answer verified by a subject expert
SmooothSmoooth
wrote...
#1
Top Poster
Posts: 5500
Rep: 381 0
8 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Sublight2097 Author
wrote...
#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
wrote...
#3
8 years ago
My pleasure Happy Dummy
wrote...
#4
3 years ago
ayy
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1068 People Browsing
 126 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 225
  
 4316
  
 22
Your Opinion
Which country would you like to visit for its food?
Votes: 204
Previous poll results: How often do you eat-out per week?