Input regulations in a fishery such as wider mesh sizes for fishing nets, reducing vessel size, and/or limiting the number of fishing days in a season are economically inefficient because: O They reduce the opportunity for commercial fishers to remain employed. O It is impossible to catch the same number of fish as in an unregulated fishery. All of the available answers. O They reduce the level of harvesting below MSY. The total cost of fishing effort is increased and net benefits may be reduced or eliminated.

Input regulations in a fishery such as wider mesh sizes for fishing nets, reducing vessel size, and/or limiting the number of fishing days in a season are economically inefficient because: O They reduce the opportunity for commercial fishers to remain employed. O It is impossible to catch the same number of fish as in an unregulated fishery. All of the available answers. O They reduce the level of harvesting below MSY. The total cost of fishing effort is increased and net benefits may be reduced or eliminated.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 23P: HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow...

See similar textbooks

Similar questions

Table 1: Production Capacity of COVID-FREE LAND.Toilet Rolls Sanitizers30,000 028,000 1,00024,000 2,00018,000 3,00010,000 4,0000 5,000Use information in Table 1 above to answer the following questions: Normally, the people of COVID-FREE LAND demand of 3,000 sanitizers and 18,000 toilet rolls. Suddenly, there is an outbreak of COVID-19 and the demand for sanitizers and toilet rolls has increased to 4,000 and 20,000, respectively. How would COVID-FREE LAND meet itsnew demand. Identify and comprehensively discuss at least three possibilities or ways. State all appropriate assumptions made
The figure below shows the demand curve for a U.S. farmer for irrigating his land. It costs $100 per acre to irrigate the land. Each acre of land irrigation generates salty runoff that winds up in the Colorado River. It costs $50 to desalinate this river water so Mexican farmers can irrigate their crops. Price ($) 275 250 225 200 175 150 125 100 75 50 25 0 DMBMB sed 10 20 30 40 50 60 70 80 90 100110120 Irrigation (acres) Tools (2) MCpvt MC social
HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?
D. England coastal community is given by MSB = 40 – 1.5*q, and the marginal cost is MSC = 0.5*q; where q is thousand tons of fish harvested in the current year, and MSB and MSC are measured in million dollars. Assume overfishing will reduce the productivity and the fishery and specifically each thousand tons of fish harvested this year will reduce the present value of future benefits by 4 million dollars, that is the marginal user cost MUC = 4. Determine the quantity of output that achieves static efficiency. Determine the quantity of output that achieves dynamic efficiency. The marginal social benefits generated from commercial fishing in an New %3D a. b.
For a firm, its labor costs are OA. an external cost. B. a private cost. C. a marginal benefit. OD. Both answers A and C are correct. OE. Both answers A and B are correct.
The initial allocation of tradable discharge permits determines whether or not an efficient abatement cost allocation is achieved can have potentially large effects on the welfare of individual polluters OC. is something that individual polluters care nothing about od. has neither efficiency nor equity implications
What is the metric designator for a raceway of trade size 3? C. 41 12 d. 78 21 a. b. 10002
A manufacturing company leases a building for $100,000 per year for its manufacturing facilities. In addition, the machinery in this bullding is being pald for in Installments of $20,000 per year. Each unit of the product produced costs $15 in labor and $10 in materials. The product can be sold for $40. Using this information, answer the follwoing questions. 1. 8,000 2. $30,000 3. 4,800 How many units per year must be sold for the company to breakeven? 4. 5,019 If 10,000 units per year are sold, what is the annual profit? 5. 6,667 Sheridan 6. $50,000 7. $80,000 8. $100,000
n order to create more jobs in the region, the local government gave permission to a foreign investor to build a chemical plant not far from a residential area. Analysts predict that real estate prices will drop by 15%15%. Currently, the total value of real estate is $40$⁢40 million.Calculate the potential external cost for the residents in this area of building the chemical plant. Write the exact answer. Do not round.
10 talk about dry ports
. $ per ton 10 8 6.50 0 140 zero, P= $6.00 $53,000, P= $6.50 $840, P=$6.00 284 MC₁ Calculate profit at the minimum efficiency scale, Which price corresponds to this? $426,000, P=$8.00 AC Thousand metric tons of lime per year
Open access regulations raise the marginal cost of fishing effort and O decreases harvest, increases stock size, and increases rent decreases harvest, increases stock size, but does not increase rent increases harvest, decreases stock size, and decreases rent increases harvest, decreases stock size, but does not increase rent