Question
Assuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in
Assuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in the blanks matchingthe effect as either: increase, decrease, no change or indeterminate (cannot determine).
Market for Wild Salmon
Fewer wild salmon remain to be caught due to over-fishing, and consumer research shows that farmed salmon provides more health benefits than wild salmon.
(a)Supply will
(Click for List)
be indeterminate (unable to determine)
increase
no change
decrease
(b)Demand will
(Click for List)
decrease
increase
be indeterminate (unable to determine)
no change
(c)Equilibrium quantity will
(Click for List)
increase
decrease
no change
be indeterminate (unable to determine)
(d)Equilibrium price will
(Click for List)
be indeterminate (cannot determine)
no change
increase
decrease
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Power And Plenty Trade, War, And The World Economy In The Second Millennium
Authors: R Findlay, Ronald Findlay
1st Edition
0691143277, 9780691143279
