The diagram illustrates the market for fresh fish in the Caribbean, with the original equilibrium at point $X$. A new type of fishing boat raises output, thereby lowering costs. Which point shows the new equilibrium?
- AA
- BB
- CC
- DD
Economics 0455 · IGCSE · Supply
The diagram illustrates the market for fresh fish in the Caribbean, with the original equilibrium at point $X$. A new type of fishing boat raises output, thereby lowering costs. Which point shows the new equilibrium?