In the spring and summer of 2010 a record number 30 million Sockeye salmon spawned up the Fraser River. In 2009 there were only just over 1 million Sockeye spawning. Quite naturally the price of Sockeye fell from about $5.00 per fish to about $1 per fish. <\/p>
a) Assuming that 30% of the salmon were caught (and sold in market) each year, calculate the price elasticity of demand, using the mid-point formula in your calculation. <\/p>
b) Do you think the local fishermen were happy with such an enormous run of fish? Briefly explain<\/p>", "transcribed_text": "", "related_book": { "title": "International Marketing And Export Management", "isbn": "1292016922, 978-1292016924", "edition": "8th Edition", "authors": "Gerald Albaum , Alexander Josiassen , Edwin Duerr", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/652ce9c2c4de0_70261.jpg", "uri": "\/textbooks\/international-marketing-and-export-management-8th-edition-9781292016924", "see_more_uri": "" }, "free_related_book": { "isbn": "0415568013", "uri": "\/textbooks\/the-history-of-the-study-of-landforms-volume-3-historical-and-regional-geomorphology-1890-1950-1st-edition-978-0415568012-166376", "name": "The History Of The Study Of Landforms Volume 3 Historical And Regional Geomorphology 1890 1950", "edition": "1st Edition" }, "question_posted": "2024-06-13 16:05:25", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/under-the-earnings-approach-when-is-performance-complete", "description": "Under the earnings approach, when is performance complete?", "stars": 3 }, { "url": "\/study-help\/introductory-financial-accounting\/time-series-analysis-time-series-analysis-involves-comparing-a-companys-1783772", "description": "TIME SERIES ANALYSIS Time series analysis involves comparing a companys income statement and balance sheet for the current year to the its previous years income statements and balance sheets....", "stars": 3 }, { "url": "\/study-help\/psychology\/4-avoid-pointing-or-gesturing-1984335", "description": "4. 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