Business, 05.10.2019 02:20 winterblanco
Suppose that two things happen simultaneously in the market for fish. first, a new technology allows fishing boats to catch more fish while using the same number of crew-members. at the same time a new study shows that eating fish at least three times a week prevent heart attacks. how will the market for fish respond?
a. equilibrium quantity will increase but the effect on the equilibrium price is unknown without more information.
b. equilibrium price and quantity will both increase.
c. equilibrium quantity will decrease but the effect on the equilibrium price is unknown without more information.
Answers: 1
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