The price of lobster is typically lower in the summer than in the spring. Which of the following explanations for this difference is given in the textbook?
A) Hot, humid weather usually reduces the demand for lobster.
B) People who usually eat lobster in other seasons substitute less expensive fish when they go on vacation; this drives down the demand for lobster.
C) The supply of lobster is greater in the summer than in the spring.
D) Import restrictions are eased in the summer; as more lobsters are imported the price of lobster falls.

Question

Quizplus · Accepted Answer

The supply of lobster is greater in the summer than in the spring.

The Price of Lobster Is Typically Lower in the Summer