Based on the NEWSWIRE article,"Catfish Farmers Feel Forced Out of Business",what should happen to the equilibrium price and quantity of catfish over time?

Question

Quizplus · Accepted Answer

The article states that catfish farmers are feeling forced out of business due to increased competition from imported catfish that is cheaper. This means that the supply of catfish is increasing, while the demand remains the same. As a result, the equilibrium price should go up, but the equilibrium quantity should go down as suppliers are unable to sell as much catfish due to the lower price. Therefore, the best choice is B.

Based on the NEWSWIRE Article,"Catfish Farmers Feel Forced Out of Business",what