Suppose the Alaskan King Crab Harvest Is Unregulated and Any

question 143

Multiple Choice

Suppose the Alaskan king crab harvest is unregulated and any person with a boat can go offshore, lower a crab pot, and harvest king crab.This common resource will likely be ________ because the marginal social cost of harvesting crabs _.

• A)overharvested; is equal to the market price of crab
• B)overharvested; is less than the market price of crab
• C)efficiently harvested; is equal to the market price of crab
• D)overharvested; exceeds the market price of crab

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