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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
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.
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