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Questions #1 outlined a shift demand curve and the resulting impact on the equilibrium quantity and price in the market (comparative statics analysis). Briefly describe

Questions #1 outlined a shift demand curve and the resulting impact on the equilibrium quantity and price in the market (comparative statics analysis).

  1. Briefly describe a different theoretical "shift" parameter associated with the demand side of a commodity fish market.
  2. What will be the impact on the equilibrium quantity and price in the market because of the shift you have described?
  3. Can we say with certainty that there will be a net change in the quantity of product exchanged? Why or why not?

***Number 1 graph attached

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