Consider the Stock of Ocean Tuna Which Is Massively Overfished

question 113

Multiple Choice

Consider the stock of ocean tuna which is massively overfished. It is rational for an individual to exploit the resource rather than to conserve the stock because

• A) the private benefit of harvesting tuna is higher than the social benefit of harvesting it.
• B) the private benefit of harvesting tuna is lower than the social benefit of harvesting it.
• C) the social cost of harvesting the fish is lower than the private cost.
• D) the private cost of harvesting the fish is lower than the social cost.

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Definitions:

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