A hurricane in Florida wipes out citrus groves throughout the state. What will definitely happen in the market for orange juice?(1 point)

Question

Responses

the price of orange juice will increase
the price of orange juice will increase

the price of apple juice (a substitute good) will decrease
the price of apple juice (a substitute good) will decrease

the supply of apple juice (a substitute good) will increase
the supply of apple juice (a substitute good) will increase

people will not want to buy orange juice

Answer 1

The most correct response to the scenario of a hurricane wiping out citrus groves in Florida is:

the price of orange juice will increase.

This is because the hurricane will reduce the supply of oranges, leading to a decrease in the availability of orange juice. With lower supply and the same or increased demand, the price of orange juice is likely to rise.