A new study discovers the health benefits of eating fish regularly. At the same time, some consumers decide to become vegetarians. What is the effect of these events on the equilibrium price and quantity in the fish market?
A) The equilibrium price rises, and the equilibrium quantity falls.
B) The equilibrium price falls, and the equilibrium quantity rises.
C) The equilibrium price falls, and the change in the equilibrium quantity is ambiguous.
D) The change in both the equilibrium price and quantity is ambiguous.
Correct Answer:
Verified
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