Answer Happy

Question: Draw a standard normal supply and demand model to help
you answer this question. The demand curve should have a slope of
-1. The supply curve should have a slope of 1. Here’s the scenario:
The product is orange per month. The weather in Florida was better
than expected and the orange crop production has increased. At the
same time a leading doctor at a credible institution stated that
consuming oranges is bad for your health. In your standard normal
supply and demand model please apply your analysis where both the
supply and demand curve shifted by the same magnitude. Which
statement below is accurate:
Group of Answer Choices:
1. Price decreased and quantity increased
2. Price increased and quantity increased
3. Quantity stayed the same and price decreased
4. Quantity stayed the same and price increased