Scenario 18-2 Gertrude Kelp Owns Three Boats That Participate in Commercial Fishing

question 11

Multiple Choice

Scenario 18-2
Gertrude Kelp owns three boats that participate in commercial fishing for fresh Pacific salmon off the coast of Alaska. As part of her business, she hires a captain and several crew members for each boat. In the market for fresh Pacific salmon, there are thousands of firms like Gertrude's. While Gertrude usually catches a significant number of fish each year, her contribution to the entire harvest of salmon is negligible relative to the size of the market.
-Refer to Scenario 18-2. If the price of fresh Pacific salmon were to decrease significantly, it is most likely that Gertrude would

• A)reduce her demand for crew members.
• B)hire more boats.
• C)become a seller in at least one factor market.
• D)hire more crew members.

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