Asked by
Zabein Wilson
on Nov 26, 2024Verified
Donald fishes for swordfish at a cost of $6 per ton. Ronny fishes at a cost of $4 per ton. Both have one 1,000-ton ITQ, and the current market price is $10 per ton. If Donald sold his ITQ to Ronny for $5,000, society would benefit from
A) more fish being caught.
B) less fish being caught.
C) an efficiency savings in fishing costs of $2,000.
D) an efficiency savings in fishing costs of $5,000.
Fishing Costs
Expenses incurred in the process of catching fish, including equipment, labor, and fuel costs.
- Explain the interaction between economic policies, environmental impact, and resource sustainability.
Verified Answer
AR
Learning Objectives
- Explain the interaction between economic policies, environmental impact, and resource sustainability.
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