A public policy that would lower everyone's income but would lower the income of the rich faster than that of the poor would further the goal of _____

A fishing boat owner sells her entire catch of 20,000 fish and maximizes profit that is equal to $7,000 . Suppose fish prices increase and you are asked to calculate her profit knowing that she now sells 30,000 fish. If fish prices increased by $3 per fish, what can you say about her new profit level?

a. profit > $90,000 b. profit < $97,000 c. profit < $90,000 d. profit > $67,000 e. profit > $10,500

When the relative price of a good increases, consumers respond by buying

a. a larger quantity of that good and a larger quantity of substitutes for that good. b. a larger quantity of that good and a smaller quantity of substitutes for that good. c. a smaller quantity of that good and a larger quantity of substitutes for that good. d. a smaller quantity of that good and a smaller quantity of substitutes for that good.