It is currently 22 Nov 2017, 04:29

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Consumers will be hurt by the new lower ceilings on halibut catches

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

1 KUDOS received
Director
Director
avatar
Joined: 11 Jun 2007
Posts: 633

Kudos [?]: 439 [1], given: 0

Consumers will be hurt by the new lower ceiling on halibut [#permalink]

Show Tags

New post 30 Nov 2007, 09:37
1
This post received
KUDOS
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

63% (01:23) correct 37% (01:37) wrong based on 215 sessions

HideShow timer Statistics

Consumers will be hurt by the new lower ceiling on halibut catches. Given the law of supply and demand, these restrictions are likely to result in an increase in the price of the fish.

Which one of the following, if assumed, would do most to justify the claim that the price of halibut will increase?

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed.
(B) There is a connection between the supply of halibut and the demand for it.
(C) The lost production of halibut will not be replaced by increased production of other fish.
(D) The demand for other fish will be affected by the new restrictions.
(E) The amount of halibut consumed represents a very small proportion of all fish consumed.

Please explain your answers, specifically for those two choices which are close.
[Reveal] Spoiler: OA

Kudos [?]: 439 [1], given: 0

Senior Manager
Senior Manager
avatar
Joined: 06 Mar 2006
Posts: 489

Kudos [?]: 276 [0], given: 1

 [#permalink]

Show Tags

New post 30 Nov 2007, 11:11
I am kind of between A and B for this one.
C the lost of production is irrelevant
D the demand for other fish is unrelated
E the amount of fish consumed is kind of out of scope

Well although between A and B, B says the connection between the supply and demand, but what kind of connection?

I think I will probably go with A here. If the demand does decrease, the price will not go up.

Kudos [?]: 276 [0], given: 1

CEO
CEO
User avatar
Joined: 29 Mar 2007
Posts: 2553

Kudos [?]: 528 [0], given: 0

Re: CR: Assumption [#permalink]

Show Tags

New post 30 Nov 2007, 13:31
eyunni wrote:
Consumers will be hurt by the new lower ceiling on halibut catches. Given the law of supply and demand, these restrictions are likely to result in an increase in the price of the fish.

Which one of the following, if assumed, would do most to justify the claim that the price of halibut will increase?

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed.
(B) There is a connection between the supply of halibut and the demand for it.
(C) The lost production of halibut will not be replaced by increased production of other fish.
(D) The demand for other fish will be affected by the new restrictions.
(E) The amount of halibut consumed represents a very small proportion of all fish consumed.

Please explain your answers, specifically for those two choices which are close.


This one is kinda wierd. B/c I see A and C as both valid choices.

Id prolly go for C on this one. b/c if we negate C, then the decreased supply of halibut is replaced by lets say Cod. thus this donest increase the price. Im still not sure though b/c

A if negated also works... i dunno maybe reasoning is C is too weak.

Kudos [?]: 528 [0], given: 0

Director
Director
avatar
Joined: 11 Jun 2007
Posts: 633

Kudos [?]: 439 [0], given: 0

 [#permalink]

Show Tags

New post 30 Nov 2007, 14:36
GBB, Why did you not like (B)?

Kudos [?]: 439 [0], given: 0

Intern
Intern
User avatar
Joined: 10 Feb 2007
Posts: 43

Kudos [?]: 36 [0], given: 0

 [#permalink]

Show Tags

New post 30 Nov 2007, 18:24
Reasoning: if supply goes down and demand doesn't, the price will increase. If the demand for Halibut does not go down, then the decrease in supply will drive the price up.

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed. Correct. If the demand for halibut does not decrease substantially, the price will increase since there will be less of it.
(B) There is a connection between the supply of halibut and the demand for it. yes but why?
(C) The lost production of halibut will not be replaced by increased production of other fish. Doesn't matter if the production will be replaced by other fish. If the public still demand for Halibut, the price will still increase.
(D) The demand for other fish will be affected by the new restrictions. irrelevant
(E) The amount of halibut consumed represents a very small proportion of all fish consumed. doesn't matter what is the consumption. The issue is demand versus supply

Kudos [?]: 36 [0], given: 0

Director
Director
avatar
Joined: 11 Jun 2007
Posts: 633

Kudos [?]: 439 [0], given: 0

 [#permalink]

Show Tags

New post 30 Nov 2007, 19:33
I am still looking for a convincing reason why (B) is not an assumption. If I negate (B), the conclusion falls apart. Anyone?

Kudos [?]: 439 [0], given: 0

CEO
CEO
User avatar
Joined: 29 Mar 2007
Posts: 2553

Kudos [?]: 528 [0], given: 0

 [#permalink]

Show Tags

New post 30 Nov 2007, 21:42
eyunni wrote:
I am still looking for a convincing reason why (B) is not an assumption. If I negate (B), the conclusion falls apart. Anyone?


What is the OA? A? C?

Kudos [?]: 528 [0], given: 0

Director
Director
avatar
Joined: 11 Jun 2007
Posts: 633

Kudos [?]: 439 [0], given: 0

 [#permalink]

Show Tags

New post 30 Nov 2007, 22:40
OA is A. but....

Kudos [?]: 439 [0], given: 0

Director
Director
avatar
Joined: 13 Nov 2003
Posts: 788

Kudos [?]: 64 [0], given: 0

Location: BULGARIA
 [#permalink]

Show Tags

New post 01 Dec 2007, 01:19
Hi,think that A is correct.
in B we know that there is a connection between suply and demand so we may have proportional decrease in demand following the imposed restrictions on the catch and no price change
C- the demand for other fish will not be affected-we know nothing about possible conection between demand for halibut and demand for other fish
D-the demand for other fish will be affected-how?-up or down, not clear
E- the amount of halibut is a small part-think that this is irrelevant

Kudos [?]: 64 [0], given: 0

Non-Human User
User avatar
Joined: 01 Oct 2013
Posts: 10129

Kudos [?]: 270 [0], given: 0

Premium Member
Re: Consumers will be hurt by the new lower ceiling on halibut [#permalink]

Show Tags

New post 16 Jul 2014, 06:45
Hello from the GMAT Club VerbalBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

Kudos [?]: 270 [0], given: 0

Intern
Intern
avatar
Joined: 10 Jun 2014
Posts: 26

Kudos [?]: 8 [0], given: 4

GMAT ToolKit User
Re: Consumers will be hurt by the new lower ceiling on halibut [#permalink]

Show Tags

New post 16 Jul 2014, 12:25
I think the answer is A too.

Can someone please provide the right answer

Kudos [?]: 8 [0], given: 4

Intern
Intern
avatar
Joined: 10 Jun 2014
Posts: 26

Kudos [?]: 8 [0], given: 4

GMAT ToolKit User
Re: Consumers will be hurt by the new lower ceiling on halibut [#permalink]

Show Tags

New post 16 Jul 2014, 12:25
I think the answer is A too.

Can someone please provide the right answer

Kudos [?]: 8 [0], given: 4

Senior Manager
Senior Manager
avatar
P
Joined: 30 Jan 2016
Posts: 297

Kudos [?]: 228 [0], given: 97

Location: United States (MA)
Reviews Badge
Consumers will be hurt by the new lower ceilings on halibut catches [#permalink]

Show Tags

New post 18 Jul 2017, 08:25
Consumers will be hurt by the new lower ceilings on halibut catches. Given the law of supply and demand these restrictions are likely to result in an increase in the price of the fish.

Which one of the following, if assumed, would do most to justify the claim that the price of halibut will increase?

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed.

(B) There is a connection between the supply of halibut and the demand for it.

(C) The lost production of halibut will not be replaced by increased production of other fish.

(D) The demand for other fish will be affected by the new restrictions.

(E) The amount of halibut consumed represents a very small proportion of all fish consumed.

Source: LSAT

Kudos :)
_________________

+1 Kudos is the best way to say "Thank you!"

Kudos [?]: 228 [0], given: 97

Senior Manager
Senior Manager
User avatar
G
Joined: 04 Sep 2015
Posts: 479

Kudos [?]: 80 [0], given: 18

Location: India
WE: Information Technology (Computer Software)
Re: Consumers will be hurt by the new lower ceilings on halibut catches [#permalink]

Show Tags

New post 19 Jul 2017, 09:38
Consumers will be hurt by the new lower ceilings on halibut catches. Given the law of supply and demand these restrictions are likely to result in an increase in the price of the fish.

Which one of the following, if assumed, would do most to justify the claim that the price of halibut will increase?

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed. if the demand of the halibut remains the same then the prices will increase but if the demand of the halibut also decreases then the prices will not increase.

(B) There is a connection between the supply of halibut and the demand for it.This is opposite logic for the given statement and the demand is not responsible for the restrictions. this choice is a trap answer with similar meaning but is out of scope.

(C) The lost production of halibut will not be replaced by increased production of other fish.other fish is not discussed

(D) The demand for other fish will be affected by the new restrictions.other fish is out of scope

(E) The amount of halibut consumed represents a very small proportion of all fish consumed.the market proportion is not discussed

Kudos [?]: 80 [0], given: 18

Director
Director
User avatar
G
Joined: 13 Mar 2017
Posts: 552

Kudos [?]: 134 [0], given: 64

Location: India
Concentration: General Management, Entrepreneurship
GPA: 3.8
WE: Engineering (Energy and Utilities)
Consumers will be hurt by the new lower ceilings on halibut catches [#permalink]

Show Tags

New post 08 Aug 2017, 23:24
Consumers will be hurt by the new lower ceilings on halibut catches. Given the law of supply and demand these restrictions are likely to result in an increase in the price of the fish.

Which one of the following, if assumed, would do most to justify the claim that the price of halibut will increase?

(A) The demand for halibut will not decrease substantially after the new restrictions are imposed.
This seems correct at the first instance as fish might be really tasty and its demand might not decrease. Since demand will not decrease price will increase.


(B) There is a connection between the supply of halibut and the demand for it.
There is a inverse relation between demand and supply of every item unless there is a certain other factor acting (For e.g. a new research says that due to the consumption of this fish people will get some serious disease which has been just discovered.). So this is just a statement or rather fact and not a valid assumption for the increase in price of the halibut.

(C) The lost production of halibut will not be replaced by increased production of other fish.

This is out of scope as we don't know if the lost production of halibut will be replaced by increased production of other fish or not. Also we don't know the behaviour of customers who would like to purchase halibut or some alternative. It's a real life trap.

(D) The demand for other fish will be affected by the new restrictions.
Out of scope. We don't know the exact relation between demand of halibut and other fishes. The demand of other fishes might increase but we can't say anything about it. It's a real life trap.

(E) The amount of halibut consumed represents a very small proportion of all fish consumed.
If the consumption of halibut represents a very small proportion of consumption of all fishes. Then also the price might increase slightly. So it also supports the price increase. But A is a better option.

Answer A
_________________

MBA Social Network : WebMaggu

Appreciate by Clicking +1 Kudos ( Lets be more generous friends.)

Kudos [?]: 134 [0], given: 64

Retired Moderator
avatar
B
Joined: 13 Feb 2015
Posts: 806

Kudos [?]: 8 [0], given: 32

Premium Member
Re: Consumers will be hurt by the new lower ceilings on halibut catches [#permalink]

Show Tags

New post 09 Aug 2017, 05:04
Merged topics. Please, search before posting questions!
_________________

Please Read: Verbal Posting Rules

Kudos [?]: 8 [0], given: 32

Re: Consumers will be hurt by the new lower ceilings on halibut catches   [#permalink] 09 Aug 2017, 05:04
Display posts from previous: Sort by

Consumers will be hurt by the new lower ceilings on halibut catches

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.