As+Food+Prices+Rise,+Lobster+Treads+Water+by+Terence+Lau

//**REMEMBER: DO NOT SUMMARIZE THE ARTICLE!!!**//

=TITLE OF EXTRACT:= As Food Prices Rise, Lobster Treads Water =SOURCE:= @http://www.newser.com/story/35289/as-food-prices-rise-lobster-treads-water.html

=DATE EXTRACT WAS WRITTEN:= Aug 20, 2008

=DATE CURRENT EVENT WAS WRITTEN:= Feb 24th, 2012

=EXPLANATION OF THE ECONOMIC THEORY RELATED TO THE ARTICLE:= The demand of Lobster drives the price of Lobster to a new high low. Even with distribution price going higher, Lobster price still continues to decrease. Lobstermen feeling high pressure to decrease variable cost to increase profit.

=VOCABULARY TERMS AND DEFINITIONS:=
 * Demand
 * Distribution Cost

=DIAGRAMS:=

=EVALUATION:=