Examlex
The inverse demand function for mangos is defined by the equation p = 91 - 5q, where q is the number of crates that are sold. The inverse supply function is defined by p = 3 + 6q. In the past there was no tax on mangos but now a tax of $44 per crate has been imposed. What are the quantities produced before and after the tax was imposed?
Faster Extraction
The increased rate at which natural resources are removed from the environment, often aiming to meet high demand but potentially leading to sustainability issues.
Long-term Stream
A sustained flow or sequence of activities, processes, or outputs extending over a lengthy period.
ITQs
Individual Transferable Quotas, a system used in fisheries management where individual fishers are allocated a certain portion of the total allowable catch.
Limit Catches
Restrictions set on the amount or number of a particular fish or other species that can be legally caught and kept.
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