Need answers for both question 1 and 2

m HHU' lL l t x D\" Quiz: Quiz/Assignment (for? X c in: Tim. F llll i l: Th; '1 A w . :. ,7 2 piiJL'lH i canvas.ubc.ca m 3 Question 1 3 pts Q Suppose frost destroys part of Florida's orange crop. At the same time, some new research showing Account health benets of apple juice causes some consumers to buy more apple juice and less orange juice at any given set of prices. What would we expect to happen to the equilibrium price and quantity in m the market for orange juice? Dashb. Ll 0 Both price and quantity will decrease Courses 0 Both price and quantity could move in either direction 6 0 Price will increase, but quantity could move in either direction roups 0 Quantity will decrease, but price could move in either direction Calendar 3 Question 2 3 pts A car-sharing company charges an annual membership fee of $20 and a fee per minute of $0.40. The marginal cost per minute (for gas, wear and tear, etc.) is $0.20. 0 The pricing structure suggests consumers in this market are close to identical 0 Consumers who buy one or more hours for any given trip get a discount on the per-minute price. This is best described as group price discrimination. O This pricing structure is an example of two-part pricing with identical consumers. O This pricing structure is an example of two-part pricing with nonidentical consumers