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Problem3:(10Points) Classifytheeffectofeachofthefollowingas(a) a change inthedemandforfishor(b)achangeinthequantityoffishdemanded. Illustrateeachoftheeffectdiagrammatically. i. ThegovernmentofCanadaclosestheAtlanticcodfishery. ii. Peoplebuylessfishbecauseofariseinfishprice. iii. TheCatholicChurchrelaxesitsbanoneatingmeatonFridays. iv. Thepriceofbeeffalls(assumingthatbeefisasubstituteoffish). v. Fearsofmercurypoisoningleadlocalstoshunfishcaughtinnearby

Problem3:(10Points)

Classifytheeffectofeachofthefollowingas(a) a change inthedemandforfishor(b)achangeinthequantityoffishdemanded. Illustrateeachoftheeffectdiagrammatically.

i. ThegovernmentofCanadaclosestheAtlanticcodfishery.

ii. Peoplebuylessfishbecauseofariseinfishprice.

iii. TheCatholicChurchrelaxesitsbanoneatingmeatonFridays.

iv. Thepriceofbeeffalls(assumingthatbeefisasubstituteoffish).

v. Fearsofmercurypoisoningleadlocalstoshunfishcaughtinnearby

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