Final answer:
A drought in Italy in 2022 would decrease the supply of arborio rice, resulting in a higher equilibrium price and a lower equilibrium quantity.
Step-by-step explanation:
A drought in Italy in 2022 would decrease the supply of arborio rice, resulting in a shift of the supply curve to the left. As a result, the equilibrium price of arborio rice would increase and the equilibrium quantity would decrease.
For example, if the drought causes a significant decrease in the supply of arborio rice, it could lead to a higher price for the rice, making it more expensive for consumers. Consequently, the quantity of arborio rice demanded would decrease as consumers are unwilling or unable to pay the higher price.