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xeco212 week 2 quiz - Event Marketaffectedby event Shiftin...

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Event  Market affected by  event Shift in  supply/demand/both Explain Frozen orange crops  in California Orange juice Supply (left)-Not as  many available  oranges to offer  consumers. Price will increase  and quantity will  decrease. Hurricanes in the  Gulf Coast Tourism in  Caribbean Coast Demand (right)-  People will switch to  touring the  Caribbean than the  Gulf Coast  Price will increase  because of increase  in demand Cost of cotton  decreases Clothing Supply(right)- cost of  production  decreases Price decreases,  quantity increases Technology improves  efficiency in pasta  manufacturing Restaurant-prepared  meals Demand (left)- Price  of pasta will decline  and thus people will  demand more of  pasta than other  restaurant-prepared  meals Price decreases, due  to decline in demand  List two types of related goods and provide an example of two goods that are  substitutes.  Products can be complements or substitutes. Two examples of complements include DVD 
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