PLEASE HELP ME WITH THIS ECON QUESTIONS I AM IN DESPERATE NEED FOR HELP THANKS?
Mar 08, 2010
in
Hurricane
A hurricane destroys most of the fishing boats on the Macro Islands but leaves the lobster traps untouched. Boats are not needed to collect the trapped lobsters. People enjoy eating fresh fish with tartar sauce and lobster with drawn butter equally. Explain the effect of the hurricane on the demand and supply for fresh fish.
Demand / Supply
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One comment
TideDweller on March 8, 2010 at 7:00 pm
High Demand in Lobster because less Supply and lots of want-to-buyers.
Low Demand in Butter because high Supply and no buyers.
High Demand in Fresh Fish because less Supply in lobsters.
High Demand in Tartar Sauce because connected to fresh fish.
Increase in Sales: Fresh Fish, Tartar Sauce
Increase in Population and Stock: Lobster, Butter
Decrease in Sales: Butter (no Lobster available)
Decrease in Population and Stock: Lobster, Butter
No Change: nothing; all is changing. Even on the seabed, where the lobster population masses up and affect their food (what do lobsters eat? might be another question ;O) )
PS: I hate tartar sauce. Butter is great!