155k views
5 votes
The demand for lobster is lower in the spring than in the summer. if the price of lobster is higher in spring than in summer then

User Albattran
by
5.0k points

1 Answer

2 votes
The demand for lobster is lower in the spring than in the summer. If the price of lobster is higher in spring than in summer then the higher demand there is for the lobster the higher the price to purchase the lobster will be. Demand drives price because if there is a high demand for something (assuming supply is smaller) the demand will drive the price up because of the quantity supplied.
User The Cook
by
5.1k points