fishing, sunset, fishermen @ Pixabay

In the article, “Do Higher Wages in the Fishing Industry Drive Up Prices for Anchovies?” author Paul Venezia discusses how an increase in wages paid to fishermen will have what effect on the fish market equilibrium? The answer is that it could drive up prices. He states that if fisherman are getting paid more per hour, then they will be able to afford a higher quantity of anchovies and this would cause an increase in demand. This would lead to a shortage of anchovies at current prices with fisherman needing to raise their price or find ways of making less money by catching fewer anchovies. If there is not enough supply for all those who want them, then the result is that people who buy them from fisherman will have to pay more. In conclusion, higher wages for fisherman could cause an increase in anchovy prices because of increased demand and a shortage of supply. Consequently, if you use charts or graphs with your article content then the reader will be able to see what information is being shown on them without reading through everything. This should help make it easier for people who are not as interested or don’t understand economics but want to read about this topic because they’re curious. The first graph mentioned is a diagram that shows how quantity supplied affects price equilibrium by illustrating two points: Q0 (supply) which has no effect on P*(demand), and Qe (capacity) where there’s too much supply so when


Please enter your comment!
Please enter your name here