In recent years, there has been a rapid increase in consumption of sushi in Canada and yet, the price of sushi has remained relatively stable.An explanation for this phenomenon could be:
A) although the demand for sushi has gone up, the supply of fish (an input in the production of sushi) has declined as well.
B) while the demand for sushi has gone up, the supply of sushi has increase by about the same magnitude and therefore, the price has stayed relatively stable.
C) while the demand for sushi has gone up, the supply of sushi has decreased by about the same magnitude and therefore, the price has stayed relatively stable.
D) while the demand for sushi has gone up, the supply of sushi has not changed and therefore, the price has stayed relatively stable.
Correct Answer:
Verified
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