question archive Economically speaking, which of the kinds of change below would be caused when fishermen along the coast of the Gulf of Mexico find that they have not caught nearly as many shrimp as the year before, due to an oil spill? Shift in the supply curve Shift in the demand curve No change in supply or demand Movement along the supply curve
Economically speaking, which of the kinds of change below would be caused when fishermen along the coast of the Gulf of Mexico find that they have not caught nearly as many shrimp as the year before, due to an oil spill? Shift in the supply curve Shift in the demand curve No change in supply or demand Movement along the supply curve
Subject:EconomicsPrice:1.87 Bought8
Economically speaking, which of the kinds of change below would be caused when fishermen along the coast of the Gulf of Mexico find that they have not caught nearly as many shrimp as the year before, due to an oil spill?
- Shift in the supply curve
- Shift in the demand curve
- No change in supply or demand
- Movement along the supply curve
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The answer is option A
Explanation
If we talk in very simple terms then from the given question it can be clearly seen that due to oil spill there is less number of shrimp caught by the fishermen and due to this there will be less supply of shrimp in the market
so this will cause left shift of the supply curve
movement occurs in a supply curve when the factor present is price
Here demand curve is not affecting
So the correct answer is option A
