The United States does not allow oranges from Brazil (the world's largest producer of oranges) to enter the United States. If Brazilian oranges were sold in the United States, oranges and orange juice would be cheaper. Is this statement true or false? Use the laws of demand and supply to explain your answer. Distinguish between a change in demand and a change in the quantity demanded and between a change in supply and a change in the quantity supplied. If Brazilian oranges are sold in the U.S. market, then the will increase, the price oranges O A. quantity of oranges supplied; will rise, and the statement is false O B. supply of oranges; will fall, and the statement is true O C. supply of oranges; will rise, and the statement is false O D. quantity of oranges supplied; will fall, and the statement is true If Brazilian oranges are sold in the U.S. market, the will increase because O A. price of orange juice; the demand for orange juice will decrease O B. quantity supplied of orange juice; it will be cheaper to produce orange juice and the quantity demanded will increase O C. supply of orange juice; the cost of producing orange juice will fall and the quantity demanded will increase O D. quantity of orange juice demanded; the quantity supplied will increase and its price will fall
The United States does not allow oranges from Brazil (the world's largest producer of oranges) to enter the United States. If Brazilian oranges were sold in the United States, oranges and orange juice would be cheaper. Is this statement true or false? Use the laws of demand and supply to explain your answer. Distinguish between a change in demand and a change in the quantity demanded and between a change in supply and a change in the quantity supplied. If Brazilian oranges are sold in the U.S. market, then the will increase, the price oranges O A. quantity of oranges supplied; will rise, and the statement is false O B. supply of oranges; will fall, and the statement is true O C. supply of oranges; will rise, and the statement is false O D. quantity of oranges supplied; will fall, and the statement is true If Brazilian oranges are sold in the U.S. market, the will increase because O A. price of orange juice; the demand for orange juice will decrease O B. quantity supplied of orange juice; it will be cheaper to produce orange juice and the quantity demanded will increase O C. supply of orange juice; the cost of producing orange juice will fall and the quantity demanded will increase O D. quantity of orange juice demanded; the quantity supplied will increase and its price will fall
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 2MC
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Transcribed Image Text:The United States does not allow oranges from Brazil (the world's largest producer of oranges) to enter the United States.
If Brazilian oranges were sold in the United States, oranges and orange juice would be cheaper.
Is this statement true or false?
Use the laws of demand and supply to explain your answer. Distinguish between a change in demand and a change in the quantity demanded and between a change in supply and a change in the quantity supplied.
If Brazilian oranges are sold in the U.S. market, then the
will increase, the price of oranges
A. quantity of oranges supplied; will rise, and the statement is false
O B. supply of oranges; will fall, and the statement is true
OC. supply of oranges; will rise, and the statement is false
O D. quantity of oranges supplied; will fall, and the statement is true
If Brazilian oranges are sold in the U.S. market, the
will increase because
O A. price of orange juice; the demand for orange juice will decrease
O B. quantity supplied of orange juice; it will be cheaper to produce orange juice and the quantity demanded will increase
O C. supply of orange juice; the cost of producing orange juice will fall and the quantity demanded will increase
D. quantity of orange juice demanded; the quantity supplied will increase and its price will fall
Click to select your answer.
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