Question: Use arrows to describe an increase or decrease in equilibrium quantity ( Qo and equilibrium price ( Po ) in the middle columns given the

Use arrows to describe an increase or decrease in equilibrium quantity

(

Qo and equilibrium price

(

)

in the middle columns given the "events" described for the Following markets. If the resulting impact on price or quantity cannot be determined, use a question mark in place of arrows. In the last column, describe whether the event affects the supply

-

side, the demand

-

side of the market or both sides of the market.

Market

.

Oranges

Event

An unexpected bumper crop

Increases the orange yield:

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