Income improvement and extreme weather conditions have led to a strong upward pressure on prices for fish. This increase in price of fish and declining popularity for fast foods due to preference for healthy eating have adversely affected restaurants selling fried fish. Adapted from 2022 TMJC Promo (a) Using demand-supply analysis and a relevant price elasticity concept, explain how income improvement and extreme weather conditions has led to the sharp increase in the price of fish. [10] (b) Discuss how the increase in price of fish and preference for healthy eating might affect the expenditure by consumers on fried fish

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a Price Increase due to Income Weather using DemandSupply Analysis Income Improvement Demand Shift Income improvement leads to increased demand for fi... View the full answer