The In the News article titled "Seafood Prices Rise on BP Oil Spill" suggests that seafood prices increased because of a decrease in supply.When the availability of seafood worsens,the supply curve of seafood shifts to the left,causing
A) A surplus to exist at the original equilibrium price.
B) Consumers to pay lower prices as they reduce their seafood consumption.
C) The price of seafood to move up along the market demand curve.
D) A decrease in demand as the price of seafood increases.
Correct Answer:
Verified
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