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2. (21 pts) Consider Florida orange juice concentrate market, where the quantity demanded Qd is a function of not only price P but also an

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2. (21 pts) Consider Florida orange juice concentrate market, where the quantity demanded Qd is a function of not only price P but also an exogenously determined income Y0. Also, the quantity supplied QS, is a function of not only price P but also a function of exogenously determined freezing degree days F0. Let demand and supply of orange juice concentrate be expressed by Qd=D(P,Y0)Qs=S(P,F0)Qd=Qs(D/P0)(S/P>0;S/F00)(S/P>0;S/F0

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