Related to the Economics in Practice on page 716: By 2001, the majority of the fishing fleet in the Indian state of Kerala had mobile phones. As a result of the introduction of mobile phone service to this fishing industry, profits ________ and consumer prices ________.
A) rose; fell
B) fell; rose
C) rose; rose
D) fell; fell

Question

Quizplus · Accepted Answer

The introduction of mobile phones allowed fishermen to communicate with markets to find the best prices for their catch, leading to increased profits for them and lower prices for consumers due to more efficient market matching.

Related to the Economics in Practice on Page 716: by 2001