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The table contains the supply and den of 12000 tons per year through a stric Quantity D Price per Pound $11.80 $11.35 $10.90 $10.45 $10.00 $9.55 a. At the new fishing quota, what is th of Bluefin tuna? b. Suppose the average fisherman can of Bluefin tuna every year (100 tons) Bluefin tuna fishing license?

The table contains the supply and den of 12000 tons per year through a stric Quantity D Price per Pound $11.80 $11.35 $10.90 $10.45 $10.00 $9.55 a. At the new fishing quota, what is th of Bluefin tuna? b. Suppose the average fisherman can of Bluefin tuna every year (100 tons) Bluefin tuna fishing license?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Macmillan Learning The table contains the supply and demand schedule for Bluefin tuna. Suppose all countries agree to limit tuna fishing to a total of 12000 tons per year through a strictly enforced licensing program for fishermen. Quantity Demanded (tons) Quantity Supplied (tons) Price per Pound $11.80 $11.35 $10.90 $10.45 $10.00 $9.55 12,000 15,000 18,000 21,000 24,000 27,000 a. At the new fishing quota, what is the quota rent per pound of Bluefin tuna? b. Suppose the average fisherman can catch 200,000 pounds of Bluefin tuna every year (100 tons). What is the value of a Bluefin tuna fishing license? 27,000 24,000 21,000 18,000 15,000 12,000 $ $ ENG 22:15 20/02/2024
Transcribed Image Text:Macmillan Learning The table contains the supply and demand schedule for Bluefin tuna. Suppose all countries agree to limit tuna fishing to a total of 12000 tons per year through a strictly enforced licensing program for fishermen. Quantity Demanded (tons) Quantity Supplied (tons) Price per Pound $11.80 $11.35 $10.90 $10.45 $10.00 $9.55 12,000 15,000 18,000 21,000 24,000 27,000 a. At the new fishing quota, what is the quota rent per pound of Bluefin tuna? b. Suppose the average fisherman can catch 200,000 pounds of Bluefin tuna every year (100 tons). What is the value of a Bluefin tuna fishing license? 27,000 24,000 21,000 18,000 15,000 12,000 $ $ ENG 22:15 20/02/2024
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