The Alaskan Halibut Fishery Has Implemented 'Catch Shares',guaranteeing Each Fisher

question 49

Multiple Choice

The Alaskan halibut fishery has implemented 'catch shares',guaranteeing each fisher a percentage of each year's allowable catch,which has reduced competition and overfishing.This is an example of which of the following?

• A)appeals to altruistic norms
• B)regulation
• C)non-zero-sum-games
• D)"small is beautiful"

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Definitions:

Price

The quantity of currency projected, called for, or dispensed as remuneration for something.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specific period.

Maximum Wage Law

Legislation that sets an upper limit on the amount of money that can be earned by employees in a specific period.

Price Ceiling

A legally established maximum price that can be charged for a good or service.