g. hurricane) on the economy of Florida. You will use supply and demand analysis to illustrate the likely effects of a hurricane on the equilibrium price and quantity in one of the markets in Florida. According to Harris and Roach (2013; Environmental and Natural Resource Economics: A Contemporary Approach, pp. 444-445) Hurricane Katrina and Hurricane Sandy caused, respectively, $100 billion and $50 billion in damages. The following markets are examples of markets in Florida based on Economic Perspectives (http://econperspectives.blogspot.com/2008_05_01_ar…).
a). the market for orange juice. (Hint: The oranges grown in Florida are primarily used to make orange juice.)
b). the market for plywood. (Hint: Plywood is used to protect windows from the high winds associated with hurricanes.)
c). the market for batteries. (Hint: Hurricanes frequently knock down power line, causing many people to be without electricity for days or weeks.)
d). the market for admission tickets to theme parks in Orlando. (Hint: Assume the hurricane causes heavy rain and wind throughout the Orlando area. Most of the attractions at these parks are outdoors.)
You must select one specific market (for example: the market for orange juice).Your analysis will consist of five sections. Each section must contain at least one paragraph. Each paragraph must contain at least three sentences:
1.Explanation of issue (4 points): You will clearly state the problem/issue and include any information necessary to fully explain the issue.
2.Evidence (4 points): You will select appropriate evidence to thoroughly investigate the problem, and critically evaluate the viewpoints.
3.Assumptions (4 points): You thoroughly analyze your assumptions and include relevant contextual information.
4.Your position (perspective, thesis/hypothesis; 4 points): You will present a hypothesis that takes into account the complexities of the issue.
5.Conclusions and related outcomes (4 points): Your conclusions will be logically tied to the evidence and outlined.
Choose one topic and complete five paragraphs on that topic.