This topic contains a solution. Click here to go to the answer

Author Question: Shrimp is an increasingly popular part of the American diet. Louisiana shrimpers who represent the ... (Read 79 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
Shrimp is an increasingly popular part of the American diet. Louisiana shrimpers who represent the bulk of the U.S. industry were almost all put out of business by Hurricane Katrina.
 
  How did this affect the equilibrium price and quantity of shrimp?

Question 2

Implicit costs are ________ and explicit costs are ________.
 
  A) costs that involve spending money; also costs that involve spending money
  B) nonmonetary costs; costs that involve spending money
  C) costs that involve spending money; nonmonetary costs
  D) nonmonetary costs; also nonmonetary costs



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

LP

  • Sr. Member
  • ****
  • Posts: 302
Answer to Question 1

The supply curve for shrimp shifted to the left resulting in a higher equilibrium price and lower equilibrium quantity.

Answer to Question 2

B




mwit1967

  • Member
  • Posts: 501
Reply 2 on: Jun 29, 2018
Wow, this really help


aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

For a complete list of videos, visit our video library