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The Two Graphs Below Show the Markets for Orange Juice

Question 6

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The two graphs below show the markets for orange juice and apple juice, which are initially in equilibrium: The two graphs below show the markets for orange juice and apple juice, which are initially in equilibrium: Show what will happen to the prices and quantities traded of both products if a severe frost in Florida were to seriously damage the orange crop. Show what will happen to the prices and quantities traded of both products if a severe frost in Florida were to seriously damage the orange crop.

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