In 1966, the Catholic Church eliminated the centuries-old re customarily ate fish on Friday. Given this, economics would predi o a. the price of fish would increase and the price of meat would o b. the price of both meat and fish would fall. o C. the price of both meat and fish would rise. o d. the price of fish would decrease and the price of meat would

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
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In 1966, the Catholic Church eliminated the centuries-old requirement that members abstain from eating meat on Fridays. Catholics
customarily ate fish on Friday. Given this, economics would predict that
o a. the price of fish would increase and the price of meat would fall.
o b. the price of both meat and fish would fall.
o C. the price of both meat and fish would rise.
o d. the price of fish would decrease and the price of meat would rise.
Transcribed Image Text:In 1966, the Catholic Church eliminated the centuries-old requirement that members abstain from eating meat on Fridays. Catholics customarily ate fish on Friday. Given this, economics would predict that o a. the price of fish would increase and the price of meat would fall. o b. the price of both meat and fish would fall. o C. the price of both meat and fish would rise. o d. the price of fish would decrease and the price of meat would rise.
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