
-The table above shows the marginal social benefit of fishing in the Mediterranean Sea. The marginal private cost of operating a fishing boat is the same for all producers; $300 per hour. The marginal social cost is twice the marginal private cost. With no government intervention, the market is
A) underproducing by 100 tonnes of fish.
B) catching the efficient quantity of fish.
C) overproducing by 200 tonnes of fish.
D) overproducing by 300 tonnes of fish.
E) underproducing by 300 tonnes of fish.
Correct Answer:
Verified
Q47: Q48: Which of the following can bring about Q49: Sue and Mark are the only two Q50: Q51: One way to overcome the tragedy of Q53: Very few voters know the enormous cost Q54: In which of the following cases does Q55: To achieve the efficient amount of use Q56: Q57: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
![]()
![]()
![]()