This Summer the Lobster Catch in Maine Has Been Especially

question 437

Multiple Choice

This summer the lobster catch in Maine has been especially large, but instead of celebrating the fisherman are suffering from a lower total revenue. (Source: New York Times, July 28, 2012) As the lobster catch increases there is

• A) a movement along the demand curve, resulting in a higher price and a decreased quantity.
• B) a movement along the demand curve, resulting in a lower price and an increased quantity.
• C) no change in either the price or the quantity.
• D) a movement along the demand curve, resulting in a higher price and an increased quantity.