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An abnormally harsh winter in Florida has affected the ability for local farmers to grow oranges: the frost on trees has led to a much
An abnormally harsh winter in Florida has affected the ability for local farmers to grow oranges: the frost on trees has led to a much lower yield of oranges than usual/expected. This news impacts Tropicana, the PepsiCo orange juice brand that is based in Chicago. How would this weather phenomenon affect Tropicana (and its products) based on what we learned this week in Economics? Question 3 options: The demand for oranges decreases, so the demand curve shifts left and the price for orange juice goes down. The supply of oranges decreases, so the supply curve shifts left and the price for orange juice goes up. The supply of oranges increases, so the supply curve shifts right and the price for orange juice goes down. The demand for oranges increases, so the demand curve shifts right and the price for orange juice goes up. The demand and supply of oranges stays the same; the price doesn't change. What happens in Florida doesn't affect what happens in Chicago
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