Draw a downward-sloping demand curve

Reference no: EM131335301

Draw a downward-sloping demand curve and an upward-sloping supply curve for orange juice. Show what happens in each of the following cases:

a. A freeze in Florida kills 30 percent of the oranges.

b. A technological breakthrough has enabled Idaho to grow oranges.

c. The supply of oranges from Mexico has been banned. The Mexican oranges accounted for about 15 percent of the market.

Reference no: EM131335301

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