Scientific evidence suggests that consuming oranges can potentially reduce the risk of diabetes, while farmers have recently developed a new fertilizer that help orange trees produce more oranges. Drawing from this week’s study materials, analyze the potential impact of these developments on the demand and supply of oranges and the equilibrium price and quantity. Additionally, in your opinion, what other information is necessary to make more accurate predictions regarding the impact of these events on the equilibrium price and quantity?
Scientific evidence suggests that consuming oranges can potentially reduce the risk of diabetes, while farmers have recently developed a new fertilizer that help orange trees produce more oranges. Drawing from this week’s study materials, analyze the potential impact of these