Multiple Choice
A hurricane destroyed the peach crop in South Carolina. Shortly thereafter the price of peaches rose significantly. These events suggest that a(n) :
A) decrease in the supply of peaches caused the price of peaches to rise.
B) increase in the supply of peaches caused the price of peaches to rise.
C) increase in demand caused the price of peaches to rise.
D) decrease in demand caused the price of peaches to rise.
Correct Answer:
Verified
Correct Answer:
Verified
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