Figure 15.14 Figure 15.14 shows the market for Atlantic tuna, a common resource.The current market equilibrium output of Q 1 is not the economically efficient output.The economically efficient output is Q 2 .
-Refer to Figure 15.14.Identify the area that shows the deadweight loss from overfishing.

Question

Figure 15.14  Figure 15.14 shows the market for Atlantic tuna, a common resource.The current market equilibrium output of Q 1 is not the economically efficient output.The economically efficient output is Q 2 .
-Refer to Figure 15.14.Identify the area that shows the deadweight loss from overfishing.

Quizplus · Accepted Answer

The deadweight loss from overfishing is represented by the area ekh, which illustrates the loss in economic efficiency when the quantity of fish caught exceeds the socially optimal level.

Figure 1514 Figure 15