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Unformatted text preview: I think the oil spill will affect the price of seafood in Louisiana keeping in a high level and that will last for a long time. People cannot fish in this area anymore because of the pollution. That means people have to get the supply of seafood from other places so that the price of seafood have to increase to cover the additional cost. Moreover, the demand of seafood is huge. Oil slick declines the supply, so seafood price will be kept in a high level. Even though the oil slick will be cleared, the seafood price will not decline immediately. It seems the oil spill just affects the fishery, but according to the multiplier effect, I think the micro economy in this county such as the employment rate will be affected....
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This note was uploaded on 04/17/2011 for the course ECON 202 taught by Professor Kotlove during the Spring '11 term at Edmonds Community College.
- Spring '11