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The popularity of whitefish, such as cod, continues to increase in the United States. Worried about overfishing, Canadian and U.S. officials reduce the cod fishing

The popularity of whitefish, such as cod, continues to increase in the United States. Worried about overfishing, Canadian and U.S. officials reduce the cod fishing season for licensed fishing crews from 45 days to 30 days. How will these two events ultimately affect the market for cod?

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DT: PT, QT DI D1 D2 DI Q Q 0 0 (a) ( b ) Increase in demand Decrease in demand P SI 5 2 ST: PV, QT st: PT, Qu D Q Q 0 0 (c) (d) Increase in supply Decrease in supply

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