Kara and Kyle are competing sockeye salmon fishers.Both have been allocated ITQs that limit their catch to 2,000 tons of sockeye salmon each.Kara's cost per ton is $8;Kyle's cost per ton is $12. Refer to the information given.If the market price of sockeye salmon is $15 per ton,and Kara and Kyle both catch their quota,their combined profit will be:
A) $6,000.
B) $14,000.
C) $20,000.
D) $30,000.
Correct Answer:
Verified
Q84: Total allowable catch (TAC)
A) explicitly limits the
Q85: Alex and Ben are both loggers wanting
Q86: Alex and Ben are both loggers wanting
Q86: A fishery is typically identified by
A) location
Q87: What was the largest U.S.fishery,in dollar terms,in
Q88: Which of the following policies has succeeded
Q90: Property rights for fish from the open
Q94: Under a TAC system, fishing of a
Q94: Which of the following is the best
Q95: Kara and Kyle are competing sockeye salmon
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