Suppose bad weather and pollution dramatically reduce the supply of crawfish in Louisiana next year. This would most likely lead to _____ in the marginal utility of crawfish consumption.
A) an increase
B) a decrease
C) no change
D) substitution and income effects

Question

Quizplus · Accepted Answer

When the supply of crawfish decreases, it becomes scarcer, potentially increasing its value and the satisfaction (marginal utility) derived from consuming each additional unit.

Suppose Bad Weather and Pollution Dramatically Reduce the Supply of Crawfish