Why does excessive fishing occur?
a) Fishermen are concerned about the population dynamics of fish biomass, not current harvest rates.
b) Fishermen have other marketable skills and do not fear exploitation of fish reserves.
c) Each individual fisherman has little incentive to maintain the species for the next year.
d) Fishermen rely on government managers to worry about fish populations.
Ans: c) Each individual fisherman has little incentive to maintain the species for the next year.
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A monopolist maximizes profit at the quantity where the slope of its total revenue curve equals the slope of its total cost curve
a. True b. False
We can use macroeconomic analysis to:
A. learn how to balance a checkbook. B. study the choices made by households. C. understand marginal changes in the macroeconomy. D. understand why economies grow.