Citrus Speculation and Forecasting, Inc. has been hired by a private consortium of orange growers to predict what will happen to the price and output...

Citrus Speculation and Forecasting, Inc. has been hired by a private consortium of orange growers topredict what will happen to the price and output of orange under the conditions below. What are yourpredictions? For each part, sketch a graph showing the appropriate demand and supply analysis.a) A major freeze destroys a large number of the orange trees in Florida.b) The scientists in the agricultural extension service of the University of Florida discover a way to double