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Classify the effect of each of the following as (i) a decrease in the demand for fish or (ii) a decrease in the quantity of fish demanded. Illustrate each diagrammatically.

(a.) The government of Canada closes the Atlantic cod fishery.
(b.) Prople buy less fish because of a rise in fish prices.
(c.) The Catholic Church relaxes its ban on eating meat on Fridays.
(d.) The price of beef falls and, as a result, consumers buy more beef and less fish.
(e.) Fears of mercury poisoning lead locals to shun fish caught in nearby lakes.
(f.) It is generally alleged that eating fish is better for one's health than eating meat.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M972257

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