Suppose that in the mango market demand shifts due to a new mango diet that is being
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Question:
Suppose that in the mango market demand shifts due to a new mango diet that is being marketed in the U.S. as a cure for cancer.Simultaneously the supply curve shifts due to a hurricane that affects the mango crop in Mexico, which is a major producer of mangoes.What is the most likely outcome in this situation?
A) The demand curve will shift back to its original level
B) The supply curve will shift again after demand meets supply
C) The equilibrium price increases, albeit by a negligible amount
D) The equilibrium price increases
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