Question

In 2004, hurricanes damaged a large portion of Florida's orange crop. As a result of this, many orange growers were not able to supply fruit to the market. Consider this new, post-hurricane situation under previous, pre-hurricane equilibrium price. We would expect to see:A. a surplus of oranges.B. the quantity demanded equal to the quantity supplied.C. an increase in the demand for oranges.D. a shortage of oranges.

Answer 1

Answer:.D. a shortage of oranges.

Explanation:shortage refers to a situation in which the demands exceeds the available resources or products such that the state of equilibrium is compromised . When there are less fruits supplied to the market this means the demand for the oranges won't be met since there is not enough production of oranges and the supply has decreased. The supply can't meet the demand any longer.