Suppose That People Find Out That Eating More Fish Improves

question 62

Multiple Choice

Suppose that people find out that eating more fish improves their health, leading them to increase their demand for fish. As a result, the equilibrium price of fish ________ and the equilibrium quantity ________.

• A) rises; decreases
• B) rises; increases
• C) falls; decreases
• D) falls; increases

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Definitions:

Indifference Curve

A graph representing combinations of two goods between which a consumer is indifferent, showing preferences and trade-offs.

Total Utility

The total satisfaction received from consuming a certain amount of a good or service.

Equilibrium Position

A situation where the supply and demand in the market are equal, leading to stable prices.

Indifference Curves

Graphical representations that illustrate combinations of goods that provide the same level of utility or satisfaction to a consumer.