A new type of synthetic netting has been developed that increases the size of each fishing boat's sardine catch. What will happen to the equilibrium price and quantity of canned sardines? Oa. Price increases; 'quantity decreases. O b. Price decreases, quantity increases. Oc. Price and quantity both decrease. Od. Price and quantity both increase.
A new type of synthetic netting has been developed that increases the size of each fishing boat's sardine catch. What will happen to the equilibrium price and quantity of canned sardines? Oa. Price increases; 'quantity decreases. O b. Price decreases, quantity increases. Oc. Price and quantity both decrease. Od. Price and quantity both increase.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![A new type of synthetic netting has been developed that increases the size of each fishing boat's sardine catch. What will happen to the
equilibrium price and quantity of canned sardines?
Oa. Price increases; 'quantity decreases.
O b. Price decreases, quantity increases.
Oc. Price and quantity both decrease.
Od. Price and quantity both increase.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3ece052e-a5e8-4f36-b001-0f2c2ac39aa7%2F1edd3465-5c28-49e7-8439-7141e236acfc%2F8ih0zhl_processed.png&w=3840&q=75)
Transcribed Image Text:A new type of synthetic netting has been developed that increases the size of each fishing boat's sardine catch. What will happen to the
equilibrium price and quantity of canned sardines?
Oa. Price increases; 'quantity decreases.
O b. Price decreases, quantity increases.
Oc. Price and quantity both decrease.
Od. Price and quantity both increase.
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