Predict what will happen to the equilibrium price and quantity of oranges if the following events take
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a. A study finds that a daily glass of orange juice reduces the risk of heart disease.
b. The price of grapefruit falls drastically.
c. The wage paid to orange pickers rises.
d. Exceptionally good weather provides a much greater than expected harvest.
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a The discovery will shift the demand curve for oranges to the right As a result both the equilibriu...View the full answer
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