Question

There is a hurricane in Florida that damages several orange crops and at the same time...

There is a hurricane in Florida that damages several orange crops and at the same time a study is published that claims that eating oranges can cause allergies for some people. What will happen to the equilibrium price (P*) and equilibrium quantity (Q*) of oranges?

Group of answer choices

P* and Q* will both decrease

P* and Q* will both decrease

P* will be ambiguous and Q* will decrease

P* will be ambiguous and Q* will increase

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OPTION C

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