Reference no: EM131860300

Suppose you are the manager of a California orange orchard. How would you expect the following events to affect the market equilibrium price you receive for a bottle of orange juice? Please state the shift (leftward or rightward) of demand or supply.

a. The price of comparable Florida orange juice decreases. a-a Shift left and this would affect demand.

b. One hundred new fruit juice processing plants open in California. b-a Shift would be Right and would affect demand

c. The price of a bottle increases significantly due to new government anti-shatter regulations. c-a This would shift left and affect Demand

d. Researchers discover a new fruit juice processing technology that reduces production costs. d-a This would shift right and affect demand

e. The average age of consumers increases, and younger people drink less orange juice e-a This would shift left and affect demand