Kara and Kyle Are Competing Sockeye Salmon Fishers

question 64

Multiple Choice

Kara and Kyle are competing sockeye salmon fishers. Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each. Kara's cost per ton is $8; Kyle's cost per ton is $12. If the market price of sockeye salmon is $15 per ton, and Kara and Kyle both catch their quota, their combined profit will be

• A)$6,000.
• B)$14,000.
• C)$20,000.
• D)$30,000.

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Definitions:

Carboxylic Acid

Organic acids containing a carboxyl group (COOH), which makes them capable of donating a proton (acidic) and forming covalent bonds with metals.

Alcohol

An organic compound characterized by one or more hydroxyl (–OH) groups attached to a carbon atom, used in a wide array of applications from solvents to beverages.

IR Spectroscopy

A technique used to identify molecular structures through the absorption of infrared light, which causes molecular vibrations.

Compounds

Substances formed from the chemical combination of two or more elements, characterized by specific molecular compositions and properties.