Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue

Exercise 11

Aquaculture is the growing of fish, shrimp, and other seafood in enclosed cages or ponds. The cages and ponds not only keep the seafood from swimming away but also provide aqua culturists with strong property rights over their animals. Does this provide a good incentive for low-cost production as compared with fishing in the open seas where there are few if any property rights L05