During 2004, orange growers in Florida experienced three hurricanes. As a result, the amount of oranges harvested

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During 2004, orange growers in Florida experienced three hurricanes. As a result, the amount of oranges harvested in Florida was smaller than usual. Orange growers in other states experienced normal growing conditions. What was the effect of the smaller harvests in Florida? How do you think the price of oranges and the quantity bought and sold changed in early 2005? What do you predict happened to the price of frozen orange juice in early 2005? Use graphs of the orange market and the frozen orange juice market to illustrate your answers.
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Foundations of Macroeconomics

ISBN: 978-0132831000

6th edition

Authors: Robin Bade, Michael Parkin

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