What is the likely effect on equilibrium price and quantity if orange growers experience an extended period of bad weather? Which curve(s) is (are) affected by bad weather (supply, demand, both, or neither)? Your answer must indicate the effect of that bad weather on the equilibrium price of oranges (did the price go up, go down, or remain unchanged?). Your answer must also indicate the effect on equilibrium quantity (did it increase, decrease, or remain unchanged?).
What is the likely effect on equilibrium price and quantity if orange growers experience an extended period of bad weather?
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