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Gasline rises and the price of a used cadillac falls

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Explain each of the following statements using supply-and -demand idagrams.

a. "Whena cold snap hits Florida, the p[rice of orange juice rises in supermarkets throughout the country.

b. "When the weather turns warm in New England ever summer, the price of hotels rooms in Caribbean resorts plummets"

c. "When a war breaks out in the middle East, the price od gasline rises and the price of a used Cadillac falls.

Reference no: EM131439195

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