Question

Elena loves orange juice. she reads in the news that 20 percent of the florida orange crop was destroyed by late spring frost. economists predict that the price of oranges will rise by 50% by the end of the year. as a result elena's demand for orange juice _____

Increases today T/F

Answer 1

True.

Step-by-step explanation:

We have been given an incomplete statement. We are asked to determine whether the given statement is true or false.

Statement: Elena loves orange juice. She reads in the news that 20 percent of the Florida orange crop was destroyed by late spring frost. Economists predict that the price of oranges will rise by 50% by the end of the year. As a result Elena's demand for orange juice increases today.

We know that price of a product and supply affect each other directly. When the price of a product is supposed to increase in future, demand of that product increases at present.

Since the price of orange will increase due to crop destruction, therefore, Elena's demand of orange juice will increase today and given statement is true.