Julius owns 100 acres of Florida orange orchards. Currently, he and other orange farmers are experiencing economic losses. As a result, Group of answer choices market supply will decrease and the price of oranges will fall. some farmers with leave the market and the price of oranges will rise. all the farmers should shut down in the long run. some farmers will leave the market and the farmers that stay will decrease their quantity produced.

Julius owns 100 acres of Florida orange orchards. Currently, he and other orange farmers are experiencing economic losses. As a result, Group of answer choices market supply will decrease and the price of oranges will fall. some farmers with leave the market and the price of oranges will rise. all the farmers should shut down in the long run. some farmers will leave the market and the farmers that stay will decrease their quantity produced.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 12P

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