Let D = Demand,S = Supply,P = Equilibrium Price,Q =

question 163

Multiple Choice

Let D = demand,S = supply,P = equilibrium price,Q = equilibrium quantity.What happens in the market for sushi if the Surgeon General announces that a majority of the raw fish that is imported to make sushi contains high levels of toxic mercury?

• A)D decreases,S no change,P and Q decrease.
• B)S decreases,D no change,P increases,Q decreases.
• C)D and S decrease,P and Q decrease.
• D)D no change,S increases,P decreases,Q decreases.

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Definitions:

Percentage

A rate, number, or amount in each hundred, represented by the symbol %.

Base

The fundamental component or main ingredient in a mixture, formula, or system.

Decimal Places

The number of digits to the right of the decimal point in a number, significant in precision of measurements and calculations.

Percent Increase

The ratio of the increase in value to the original value, expressed as a percentage.