Multiple Choice
Suppose a scientific report states that fish contain dangerously high levels of mercury (toxic to humans) . At the same time, the price of diesel fuel, used by fishermen to fuel their boats, falls. What is the effect on the market for fish?
A) A decrease in demand and a fall in price and quantity sold
B) A decrease in demand and supply; price and quantity sold falls
C) A decrease in demand and an increase in supply; price falls but the change in quantity is ambiguous
D) A decrease in demand and supply; price and quantity sold rises
Correct Answer:
Verified
Correct Answer:
Verified
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