-The Above Figure Shows the Marginal Private Cost Curve, Marginal

question 44

Multiple Choice

-The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for blue fin tuna, a common resource. A quota to prevent the over-fishing of the tuna sets the catch equal to

• A) 300 tonnes per week.
• B) 200 tonnes per week.
• C) 500 tonnes per week.
• D) zero tonnes per week.
• E) 400 tonnes per week.

---

Definitions:

General Ledger

A complete record of all financial transactions over the life of a company, organized by accounts.

Income Statement

A financial statement that summarizes revenues, expenses, and profits or losses of a business for a specific period.

Financial Statement

A document that presents a detailed financial status of a company, including balance sheets, income statements, and cash flow statements, at a specific point in time.