-The Table Above Shows the Marginal Social Benefit of Fishing

question 45

Multiple Choice

-The table above shows the marginal social benefit of fishing in the Mediterranean Sea. The marginal private cost of operating a fishing boat is the same for all producers; $300 per hour. The marginal social cost is twice the marginal private cost. If the government sets a production quota, to have the efficient quantity of fish caught, the quote should equal ________ tonnes of fish.

• A) 100
• B) 200
• C) 300
• D) 400
• E) 500

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Definitions:

External Locus of Control

A belief that one's life outcomes are largely influenced by external forces or fate rather than one's own actions.

Real Self

An individual's authentic identity, including their genuine thoughts, feelings, and desires, as opposed to their publicly presented self.

Self-Esteem Affirmation

Positive statements or affirmations that individuals repeat to themselves to boost or maintain their self-esteem.

Locus of Control

A psychological concept that refers to how strongly people believe they have control over the situations and experiences that affect their lives.