supply X Price ($/orange) P* X Q* Quantity (oranges/week) What will happen to the equilibrium price and quantity of oranges? O Equilibrium price will decrease and equilibrium quantity will increase. O Equilibrium price will increase and equilibrium quantity will decrease. O Both equilibrium price and equilibrium quantity will increase. O Both equilibrium price and equilibrium quantity will decrease. c. Suppose the wage paid to orange pickers rises.Market for oranges Price ($/orange) P* X Quantity (oranges/week) What will happen to the equilibrium price and quantity of oranges? O Equilibrium price will increase and equilibrium quantity will decrease. O Both equilibrium price and equilibrium quantity will decrease. O Both equilibrium price and equilibrium quantity will increase. O Equilibrium price will decrease and equilibrium quantity will increase.Price ($/orange) X Quantity (oranges/week) What will happen to the equilibrium price and quantity of oranges? O Equilibrium price will increase and equilibrium quantity will decrease. O Both equilibrium price and equilibrium quantity will increase. O Equilibrium price will decrease and equilibrium quantity will increase. O Both equilibrium price and equilibrium quantity will decrease.Use the graphs provided to predict what will happen to the equilibrium price and quantity of oranges if the follow Instructions: Depict how this event will affect the market of oranges by dragging the appropriate curve in the g a. A study finds that a daily glass of orange juice reduces the risk of heart disease. Market for oranges Price ($/orange) p* Quantity (oranges/week) What will happen to the equilibrium price and quantity of oranges? O Both equilibrium price and equilibrium quantity will increase