Question

) In 2017, hurricanes damaged a large portion of Florida's orange crop. As a result of this, many orange growers were not able to supply fruit to the market. After the hurricane, what would we expect to see happen in the market at the pre-hurricane (initial) equilibrium price?

Answer 1

It is expected an elevation on the price of the orange.

Step-by-step explanation:

This elevation on the price of the orange is due to an imbalance of the supply and demand logic. With the hurricane and the destruction of the crops, the market is not well supplied for the demand, which has not suffered variation. So, we see, at least, the same demand, but in a new reality of a less supply.