QUESTION 1A recent storm resulted in massive damage to numerous fishing boats. This made fishing difficult for the affected fishermen. As a result,the price for 1 kilogram of fish rose from $14.70 to $18.70.Which of the following statements is true?O The demand for fish will decrease.O The demand of fish will increase.O The quantity demanded of fish will increase.O The quantity demanded of fish will decrease.O The change in price is associated with the movement along the supply curve.

Demand curve is the downward sloping curve. Supply curve is the upward sloping curve. Equilibrium is…

A recent storm resulted in massive damage to numerous fishing boats. This made fishing difficult for the affected fishermen. As a result, the price for 1 kilogram of fish rose from $14.70 to $18.70. Which of the following statements is true? The demand for fish will decrease. The demand of fish will increase. O The quantity demanded of fish will increase. O The quantity demanded of fish will decrease. O The change in price is associated with the movement along the supply curve.

A recent storm resulted in massive damage to numerous fishing boats. This made fishing difficult for the affected fishermen. As a result, the price for 1 kilogram of fish rose from $14.70 to $18.70. Which of the following statements is true? The demand for fish will decrease. The demand of fish will increase. O The quantity demanded of fish will increase. O The quantity demanded of fish will decrease. O The change in price is associated with the movement along the supply curve.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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