Suppose that there is a renewed interest in eating caviar, Ask an Expert

Economics

Suppose that there is a renewed interest in eating caviar at the same time that the supply of Russian caviar shrinks. What would be the most likely effect of these events on the price and quantity of caviar sold?

A. Price fell and quantity sold rise

B. Price fell and the effect on the quantity of caviar sold is ambiguous

C. Price rose and the effect on the quantity of caviar sold is ambiguous

D. Price rose and quantity sold fell.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91994879

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