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What would happen to the aggregate supply curve if a strong hurricane destroyed much of Florida's citrus industry? Explain.
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What would happen to the aggregate supply curve if a strong hurricane destroyed much of Florida's citrus industry? Explain.

User Abadalyan
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Answer:

The short run aggregate supply (SRAS) curve would shift to the left, decreasing total supply and increasing the price at every level of quantity demanded.

Anytime the price of a key input increases or its availability decreases, the production costs will increase, so the supply curve will shift to the left.

User Tom Cornebize
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