I don’t think you know how the crab market works.
I dont think you know how the crab market works.Sure I do, it's called a conspiracy or collusion.
Fishermen(supply) and processors(demand) reaching a strike price for a good seems to me to be the very essence of a free market system in action.Sounds good except Fishermen(supply) didn't know what processors(demand) was/is untill the price was agreed to...not only that, processors(demand) had/has no idea what the Fishermen(supply) is going to be...
Sorry, supply and demand doesn't determine price in the crab market...it's a lie.
Since the price was determined before the boats left the harbor it sounds like the next time I see crab on my menu the words "market price" won't be there...The price was determined before the fishing boat's motors started.