Elucidate each of the folling statements using supply

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Reference no: EM1347805

Elucidate each of the folling statements using supply and demand diagrams.

a. When a cold snap hits Florida, the price of orange juice rises in super marlets through out the country

b. when the weather turns warm in New England every summer, the price of the hotel rooms in the Caribbean resorts plumit.

c. When a war breaks out in the Middle East, the price of gasoline rises, and the price of a used cadillac falls.

Reference no: EM1347805

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