Use the figure below to answer the following questions. 
Figure 3.4.1
-At price P2 in Figure 3.4.1,which one of the following is not true?
Definitions:
ITQs
Individual Transferable Quotas, a fishery management tool that allocates a certain quantity of a fishery resource to individuals or companies.
Pacific Halibut
A large flatfish species found in the North Pacific Ocean, prized for its commercial and recreational fishing value.
Market Price
The current price at which an asset or service can be bought or sold in a given market.
Conflict Diamonds
Diamonds that are mined and sold by combatants in war zones in Africa as a way to provide the currency needed to finance their military activities.
Q1: A tradeoff exists when<br>A)we move from a
Q24: In Figure 1A.3.3 the relationship between x
Q57: Figure 2.1.6 shows the production possibilities frontier
Q57: Which of the following statements is true?<br>A)International
Q86: A 3 cents per-unit tax on bread
Q110: Refer to Table 6.5.1.If a $2-per-unit cost
Q111: Consider the market for cell phones.Suppose the
Q113: A medical clinic has 10 workers.Each worker
Q154: If a producer can use its factors
Q165: When the price of a bicycle falls