(Solved) Figure 5-15 shows the market for Atlantic salmon, a common resource. The current market equilibrium ...

regina nana

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Figure 5-15 shows the market for Atlantic salmon, a common resource. The current market equilibrium ...

Question 1.

A tragedy of the commons occurs when a resource is

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non-rival and excludable.

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rival and excludable.

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rival and non-excludable.

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non-rival and non-excludable.

Question 2.

Figure 5-15

Figure 5-15 shows the market for Atlantic salmon, 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 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?

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the social marginal benefit of harvesting salmon

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the private marginal benefit of harvesting salmon

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the private marginal cost of harvesting salmon

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the social marginal cost of harvesting salmon

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 368 times

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shamanie

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regina n. Author

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5 years ago

Thank you for answering so quickly

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meikunn2565

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5 years ago

Figure 5-15

Figure 5-15 shows the market for Atlantic salmon, 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 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S2 represent?

▸

the private marginal benefit of harvesting salmon

▸

the private marginal cost of harvesting salmon

▸

the social marginal benefit of harvesting salmon

▸

the social marginal cost of harvesting salmon

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dnlee1

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5 years ago

the social marginal cost of harvesting salmon

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Juste M.

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3 years ago

Thanks

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wahyu a.

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3 years ago

thank you

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