Figure 15.14 
Figure 15.14 shows the market for Atlantic tuna, a common resource.The current market equilibrium output of Q1 is not the economically efficient output.The economically efficient output is Q2.
-Refer to Figure 15.14.Identify the area that shows the deadweight loss from overfishing.
Definitions:
Past Oriented
A perspective or approach that places emphasis on traditions, history, and values from the past in decision making and lifestyle.
Retributivist
A philosophy of punishment where the focus is on the offender receiving a punishment proportional to the crime committed, based on the principle of just desert.
Utilitarian
A philosophical approach that emphasizes the greatest good for the greatest number of people as the primary consideration in decision making.
Future
The period of time that will come after the present, which has yet to occur and is unknown.
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