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Fisheries Data Analysis: Equilibrium and Elasticity Findings

Analyzing fish data from both oceans, illustrating supply-demand equilibrium and extreme elasticity in the market. Learn key insights from the points alignment and calculations done by Dr. D. Foster in Fall 2003.

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Fisheries Data Analysis: Equilibrium and Elasticity Findings

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  1. Fish Results – ECO 284 Dr. D. Foster – Fall 2003

  2. Plot of all fish data – both oceans

  3. All the points line up to show…Demand !!!

  4. The data points show equilibrium . . . Supply is vertical!

  5. And the elasticities? • Elasticity of Demand from end points: (1300-350)/825 (17.80-20.50)/19.15 = -6.3 • Elasticity of Supply = infinity

  6. Fish Results – ECO 284 Dr. D. Foster – Fall 2003

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