A spike in the popularity of snapper fish in american restaurants causes a sharp increase in snapper fishing. how will this affect the population of nassau groupers?

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01-09-2022
Social Studies

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A spike in the popularity of snapper fish in american restaurants causes a sharp increase in snapper fishing. how will this affect the population of nassau groupers?

Sagot :

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tutorconsortium203 tutorconsortium203 · Answer 1 · 2022-09-05T17:02:03-04:00

When a spike in the popularity of snapper fish in american restaurants causes a sharp increase in snapper fishing then "the number of nassau groupers will increase as the demand might incrase."

What is change in demand?

The change denotes an increase or decrease in both supply and demand volume relative to the equilibrium. Aside from the product's price, other factors influence changes in the amount demanded.

Some reasons for change of demand of the product are-

Income Changes in the Consumer: When the price of a good stays unchanged, the demand for such a good rises (falls) as the price of substitute goods rises (decreases).
Price Variations in Substitute Goods: Whenever the rate of goods remains constant, this same demand for the good rises (falls) if the number of complementary goods falls (increases).
Price Variations in Complementary Goods: According to the Change in Demand description, whenever the price of a good remains unchanged while the costs of its correlating goods decrease (increase), the demand for the good rises (decreases).
Changes in Taste and Preferences, as well as in Consumers: When the price of a commodity remains constant, if taste and preferences for that good increase (decrease), so does demand for that item (decreases).

Thus, in the given situation; as the popularity of snapper fish in american restaurants causes a sharp increase in snapper fishing increase the demand of nassau groupers also.

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Sagot :

What is change in demand?

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