Econ help needed. Suppose a study finds that drinking a daily glass of orange juice reduces the risk of heart disease.Instructions: Depict how this event will affect the market for oranges by dragging the appropriate curve in the graph.Price (S/orange)Your Graph Score: 0%Market for orangesQuantity (oranges/week)$What will happen to the equilibrium price and quantity of oranges?Both equilibrium price and equilibrium quantity will decrease.Equilibrium price will increase and equilibrium quantity will decrease.Both equilibrium price and equilibrium quantity will increase.Equilibrium price will decrease and equilibrium quantity will increase.

Favorable news can influence demand of a product. If there is news that oranges are more beneficial…

What will happen to the equilibrium price and quantity of oranges? Both equilibrium price and equilibrium quantity will decrease. Equilibrium price will increase and equilibrium quantity will decrease. ⒸBoth equilibrium price and equilibrium quantity will increase. Equilibrium price will decrease and equilibrium quantity will increase.

What will happen to the equilibrium price and quantity of oranges? Both equilibrium price and equilibrium quantity will decrease. Equilibrium price will increase and equilibrium quantity will decrease. ⒸBoth equilibrium price and equilibrium quantity will increase. Equilibrium price will decrease and equilibrium quantity will increase.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

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