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The market for oranges is in equilibrium. Now suppose that a cold snap hits Florida, and at the same time a new research shows that

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The market for oranges is in equilibrium. Now suppose that a cold snap hits Florida, and at the same time a new research shows that eating oranges reduces risk of heart disease. What will be the effect of these changes on the equilibrium price and quantity in orange market?

Multiple Choice

Price will increase, and quantity will increase.

Price will increase, and effect on quantity is ambiguous.

Quantity will decrease, and effect on price is ambiguous.

Price will decrease, and quantity will increase.

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The market for oranges is in equilibrium. Now suppose that a cold snap hits Florida, and at the same time a new research shows that eating oranges reduces risk of heart disease. What will be the effect of these changes on the equilibrium price and quantity in orange market? Multiple Choice 0 Price will increase. and quantity will increase. Price will increase. and effect on quantity is ambiguous. Price will decrease, and quantity will increase. 0 Quantity will decrease. and effect on price is ambiguous

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