There Have Been Severe Problems in the Atlantic Fishing Industry

Multiple Choice

There have been severe problems in the Atlantic fishing industry, with large falls in the fish stocks. As a result,

A) the price of fish will fall.
B) the quantity of fish sold will increase as fishermen will catch more to make up for the shortage.
C) the equilibrium price and the equilibrium quantity will fall or rise depending on how large the fall in fish stocks.
D) both the equilibrium price and the equilibrium quantity will rise, as consumers will desire even more fish, because they are scarce.
E) the fall in the fish stocks will lead to a shortage, a rise in the equilibrium price and a decrease in the equilibrium quantity.