Consider a Market That Is in Equilibrium

question 38

Multiple Choice

Consider a market that is in equilibrium.If it experiences an increase in demand,what will happen? The demand curve will shift to the:

• A) right, and the equilibrium price and quantity will rise.
• B) right, and the equilibrium price will increase and the equilibrium quantity will decrease.
• C) right, and the equilibrium price and quantity will fall.
• D) left, and the equilibrium price and quantity will fall.

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Definitions:

Wild Salmon

Salmon that live and reproduce in their natural environments in oceans and rivers, not raised in captivity for commercial purposes.

Transgenic Salmon

Genetically modified salmon that have been altered to grow faster than wild-type salmon, often involving the insertion of growth hormone genes from other fishes.

Salmon Farms

Aquaculture operations specifically aimed at breeding and raising salmon in controlled environments for commercial purposes.

Pollution

The introduction of harmful substances or products into the environment, resulting in negative effects on living organisms and the natural ecosystem.