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 an inferior good,what will likely happen to fishing efforts if income increases?
A) Fishing efforts will increase.
B) Fishing efforts will decrease, especially when supply is relatively inelastic.
C) Fishing efforts will decrease, especially when supply is relatively elastic.
D) None of the above.

Question

Quizplus · Accepted Answer

If lionfish is an inferior good, an increase in income will lead to a decrease in demand for lionfish. If the supply is relatively elastic, the decrease in demand will lead to a significant decrease in price, reducing the incentive for fishing efforts.

Lionfish Is an Aquatic Invasive Species in the Southeastern U