Suppose the Alaskan King Crab Harvest Is Unregulated and Any

question 81

Multiple Choice

Suppose the Alaskan king crab harvest is unregulated and any person with a crab boat and some diesel fuel can go offshore,lower a crab pot,and harvest king crab.As a result,this common resource is overused.Which policy choice might produce the socially optimal king crab harvest?

• A)Alaska subsidizes the purchase of crab boats.
• B)Alaska auctions a limited number of licenses to harvest king crab.
• C)Alaska removes taxes on diesel fuel,which lowers the price of diesel.
• D)The U.S.and Canadian governments remove trade barriers,which allows for more trade of products like king crab.

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Definitions:

Correlational Coefficient

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Random Assignment

A method used in research to distribute participants randomly across various experimental groups to ensure each group is similar at the start of the experiment.

Ethical Reasons

Ethical reasons pertain to the moral principles that govern a person's behavior or the conducting of an activity, serving as a basis for determining what actions are right or wrong.

Treatment

Medical care given to a patient for an illness or condition, including medication, therapy, or surgery.