Questions

1. Explain each of the following statements using supply and demand diagrams. a. When a cold snap hits Florida, the price of orange juice rises in supermarkets through out the country b. When the weather turns warm in new England every summer the price of hotel rooms in Caribbean resorts plummets c. When a war breaks out in the middle east the price of gasoline rises and the price of a used Cadillac falls

Asphyxia