Frigid Florida Winter is Bad News for Tomato Lovers An unusually cold January in Florida destroyed entire fields of tomatoes. Florida's growers are shipping only 50% of their usual 6 million pounds a week. The price has risen for 25% from $6.50 for a 25-pound box a year ago. What is the equilibrium quantity and price? In a sentence explain which curve would shift and where to? What happened to the equilibrium price and equilibrium quantity?

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.