If Consumers Suddenly Began Desiring More Apples and Fewer Oranges

Multiple Choice

If consumers suddenly began desiring more apples and fewer oranges,

A) the market price of apples would rise, creating short-run economic profits in the apple industry. Current firms will expand output and new firms will enter the industry.
B) the market price of oranges would fall, creating short-run economic losses in the orange industry. Current firms will reduce output and some will go out of business in the long run.
C) neither a nor b are correct.
D) both a and b are correct.