need help with part b. The solution is : no because his personal preference is irrelevant because he can buy and sell at the same price as long as there is a competitive maket for fish.

My question is: I get it that personal preferences do not affect market prices...but saying that he can still buy and sell at the same price in the competitive market, I was just thinking if now the prices of the fish change, the fish will still be traded at the same price. In this case, this means that the value of the fish can chg but still be bought and sold at the same price in the competitive market.

What I am getting at is that the value of the fish will not chg because personal preferences are irrelevant not because that he can buy and sell at the same price in the competitive market. Am I right?

Tutorial Question No. 2 - Ch 3 Prob 7 Bazza is a prawn farmer. In an ironic twist, Bazza is allergic to shellfish, so he cannot eat any prawns. Each day, he has a one- tonne supply of prawns. The market price of prawns is $10 000 per tonne. a. What is the value of a tonne of prawns to him? b. Would this value change if he were not allergic to prawns?! Why or why not