A severe freeze has once again damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of:

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BlackTom AI · Accepted Answer

Restating the scenario: A severe freeze has damaged the Florida orange crop, and the question asks about the impact on the market for orange juice. The provided answer option is: 'the supply curve.'

Analysis of the option: The key economic effect of a frost-damaged crop is a reduction in the quantity of oranges that producers can supply at every price. This decrease in available oranges shifts the entire supply curve to the left, not the demand curve. In other words, at every price level, producers are willing and able to supply fewer oranges, which translates into a leftward shift of the supply curve for orange juice.

Why this is correct: A leftward shift in the supply curve arises specifically from factors that reduce producers' ability or willingness to produce and sell a good, such as weather damage to crops. Since the question ties the shift to the damage of the Florida orange crop, the supply-side change accurately describes the market response.

Why the other possibilities (if any) would be incorrect: If we were to consider a shift in the demand curve, that would imply changes in consumers' willingness to buy orange juice at each price, which is not implied by a supply-reducing event like a freeze. A movement along the supply curve (a change in quantity supplied) would occur if the price of oranges changed, not if the crop was damaged. Lastly, a rightward (increase) shift would require factors that make production easier or more profitable, which contradicts the described frost damage.

经济&202 33295 第三章测验

A severe freeze has once again damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of:

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