Lionfish is an aquatic invasive species in the southeastern U.S.and the Caribbean.Current removal policies focus on harvesting the lionfish for human consumption.Assuming that lionfish is a substitute for snapper,what will likely happen to fishing efforts for lionfish if the price of snapper increases?
A) Fishing efforts will increase.
B) Fishing efforts will decrease.
C) Fishing efforts will remain the same if supply is perfectly inelastic.
D) A and C

Question

Quizplus · Accepted Answer

If the price of snapper increases and lionfish is a substitute for snapper, demand for lionfish may increase as consumers switch to the relatively cheaper substitute, leading to increased fishing efforts. However, if the supply of lionfish is perfectly inelastic, meaning it cannot be increased regardless of demand, fishing efforts would remain the same.

Lionfish Is an Aquatic Invasive Species in the Southeastern U