Question

a hurricane hit florida and destroyed half of the orange crop. what would most likely happen to the orange market? demand for oranges will rise the price of oranges will fall the price of oranges will increase supply of oranges will increase question 4 2 pts if nike is producing shoes faster than people want to buy them, there will be and excess demand and the price of nike shoes will be expected to increase.e there will be an excess supply and the price of nike shoes will increase. there will be an excess supply and the price of nike shoes is expected to decrease. there will be an excess demand and the price of nike shoes will be expected to decrease

Explanation:

First Question (Hurricane and Orange Market)

When a hurricane destroys half the orange crop, the supply of oranges decreases (since less is available). In a market, if supply decreases (while demand likely stays similar or changes little in the short - term), the equilibrium price tends to increase.

• "Demand for oranges will rise" is incorrect because the hurricane destroying the crop doesn't directly cause demand to rise (demand is about consumers' desire to buy, not the supply shock here).
• "The price of oranges will fall" is wrong because a decrease in supply (with stable or similar demand) leads to higher prices, not lower.
• "Supply of oranges will increase" is incorrect as the hurricane destroys the crop, so supply decreases.
• "The price of oranges will increase" is correct due to the supply - demand dynamics (decreased supply → upward pressure on price).

If Nike is producing shoes faster than people want to buy them, the quantity supplied is greater than the quantity demanded. This is a situation of excess supply. When there is excess supply, producers will likely lower prices to sell the surplus.

• "there will be an excess demand and the price of Nike shoes will be expected to increase" is wrong because excess demand is when people want to buy more than is supplied, which is not the case here.
• "there will be an excess supply and the price of Nike shoes will increase" is incorrect because with excess supply, prices tend to decrease, not increase.
• "there will be an excess supply and the price of Nike shoes is expected to decrease" is correct as excess supply (supply > demand) leads to price decreases as producers try to clear the surplus.
• "there will be an excess demand and the price of Nike shoes will be expected to decrease" is wrong because the situation is excess supply, not excess demand.

Answer:

The price of oranges will increase

Second Question (Nike Shoe Production)