Question: Why is the market day supply curve for fish drawn as
Why is the market-day supply curve for fish drawn as a vertical line? What happens to equilibrium price and quantity when the demand for fish increases in that market?
Answer to relevant QuestionsSuppose the U.S. allows neighboring economies to enter our slipper market. Draw a graph showing the probable effects of their entry on price and quantity of slippers demanded and supplied in the United States. How do you explain the fact that a single rose at the supermarket florist Is $1.49 every day of the year except the week before and during Valentine's Day, when it increases to $3.50? Supposing you own a pastry shop. Using any numbers you wish, construct a table showing your market-day, short-run, and long-run supply of chocolate Eclairs. Explain the differences. Suppose Mark Sanchez, quarterback of the New York Jets, increased his annual income 20 percent by endorsing Kellogg's Com Flakes. If his demand for hair shampoo didn't change, what can we say about his income elasticity of ...Economic consultants to razor and razor blade producer Gillette advise the company to sell their razors below cost. What economic rationale explains the advice?
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