Draw a downward-sloping demand curve and an upward-sloping supply curve for orange juice. Show what happens in
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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.
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