-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:

Exchanges

Interactions or transactions between parties, involving the giving and receiving of goods, services, or ideas.

Stranger Phase

A stage in the development of interpersonal relationships where individuals do not yet know each other and are beginning to interact for the first time.

Scripted

Following a pre-defined set of instructions or a detailed plan, often with little room for deviation or improvisation.

Leadership Making

A process of developing, shaping, and influencing others into leaders or enhancing their leadership capabilities.