Describe the impact of this event on the mark for apples

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Q. Suppose consumer tastes shift toward the consumption of apples. Which of the following statements is an accurate description of the impact of this event on the market for apples?

Q. If average income increases from US$5,000 to US$5,500 and if technological advances reduce the cost of catching fish from US$2,500 per ton to US$2,000 per ton, by how much will the annual catch exceed the maximum sustainable fish catch of 30 million tons of fish?

Reference no: EM1352458

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