![]() A major freeze destroys a large number of the orange trees in Florida.Ī. Supply and Demand with Graphical Illustrationsįor each part, sketch a graph showing the appropriate demand and supply analysis.Ī. ![]() A major freeze destroys a large number of the orange trees in Florida. Predicting Orange Price and Output Under New Conditionsįor each part, sketch the graph showing the appropriate demand and supply analysis.ġ. Which operating scenario results in market equilibrium? Set up a spreadsheet to illustrate the effect of changing economic assumptions on the surplus or shortage of Sunbest orange juice that results from each scenario detailed in part A and part B. Finally, fix all supply factors except temperature at Scenario #6 levels, and then calculate supply at each scenario temperature level. Second, fix all supply factors except the price of Sunbest at Scenario #6 levels, and then calculate the quantity supplied at each scenario price level. First, assume that all supply factors change in unison from levels indicated in the Optimistic Scenario #1 to the levels indicated in Pessimistic Scenario #10. Use the supply function to calculate supply based on three different underlying assumptions concerning changes in the operating environment. Set up a spreadsheet to illustrate the effects of changing economic assumptions on the supply of Sunbest orange juice. Finally, fix all demand factors except temperature at Scenario #6 levels, and then calculate demand at each scenario temperature level. Second, fix all demand factors except the price of Sunbest at Scenario #6 levels, and then calculate the quantity demanded at each scenario price level. First, assume that all demand factors change in unison from levels indicated in the Optimistic Scenario #1 to the levels indicated in Pessimistic Scenario #10. Use the demand function to calculate demand based on three different underlying assumptions concerning changes in the operating environment. Set up a spreadsheet to illustrate the effects of changing economic assumptions on the demand for Sunbest orange juice. The spreadsheet has been set up and the first half of each section has been completed. Complete the following operations in Microsoft Excel to complete the supply/demand analysis for Sunbest Orange Juice.
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