Multiple Choice
Suppose we observe a decrease in the equilibrium price of tuna and an increase in the equilibrium quantity of tuna. This is best explained by:
A) a decrease in the cost of fuel used by tuna fishing boats.
B) a decrease in the tuna population in the oceans.
C) a decrease in the expected future price of tuna.
D) an increase in the price of salmon, a substitute for tuna.
Correct Answer:
Verified
Correct Answer:
Verified
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