Author Question: Suppose that an early frost damages the Florida orange crop. As a result, the price of California ... (Read 103 times)

asan beg

  • Hero Member
  • *****
  • Posts: 570
Suppose that an early frost damages the Florida orange crop. As a result, the price of California oranges increases. Ceteris paribus, which one of the following statements best explains this situation?
 
  A) The supply of Florida oranges decreased, causing the supply of California oranges to increase, which resulted in a higher price.
  B) The supply of Florida oranges decreased, causing the supply of California oranges to decrease, which resulted in a higher price.
  C) The supply of Florida oranges decreased, causing their price to increase, and thus causing the demand for California oranges to increase.
  D) The demand for Florida oranges fell because of the freeze, and this led to a higher demand for California oranges.

Question 2

In the above figure, the opportunity cost of moving from producing 75 guitars and 25 ukuleles to producing 25 guitars and 75 ukuleles is
 
  A) 25 guitars.
  B) 75 ukuleles.
  C) 25 ukuleles.
  D) 50 guitars.



mcni194

  • Sr. Member
  • ****
  • Posts: 311
Answer to Question 1

C

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

For a complete list of videos, visit our video library