Multiple Choice
You notice that the price of orange juice at your local grocery store has increased. Which of the following statements is not a possible explanation for the rise in the price of orange juice?
A) Frosty weather destroys oranges causing the price of oranges to increase.
B) As a result of an increase in income, consumers wish to purchase more orange juice at every price level.
C) A recent scientific study is reported in the press that suggests that apple juice may be contaminated with pesticides.
D) Due to the bioengineering of orange trees, the domestic supply of oranges increases.
Correct Answer:

Verified
Correct Answer:
Verified
Q165: Ceteris paribus, if the market supply of
Q166: Serious natural disasters like hurricanes and tornadoes
Q167: Ceteris paribus, if the market demand for
Q168: Assume there is a price ceiling imposed
Q169: Exhibit 5-2<br><br>The diagram below represents the market
Q171: Pork from pigs can be used to
Q172: Assuming that the demand for a good
Q173: Assuming that the demand and supply of
Q174: To the extent that a governmental price
Q175: If incomes are rising, in the market