The break-even quantity is

The problem of overfishing in waters that are commonly owned can be solved when the government determines the total amount of fish can be removed from a given area during each fishing season. Then the fishermen

A) will not be able to fish. B) can trade their rights (shares) to fish or not. C) will externalize their private costs to the government. D) will lower their private costs to fish.

Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of a meeker is $30. Suppose that the world price for a meeker is $40. Assume that Meekertown is too small to influence the world price for meekers once they enter the international market.

1.If Meekertown allows free trade, then it will ___________ meekers. 2. Given current economic conditions in Meekertown, complete the following table by indicating whether each of the statements is true or false. 3. Meekertownian consumers were worse off without free trade than they are with it. 4. Meekertownian producers were better off without free trade than they are with it. 5. When a country is too small to affect the world price, allowing free trade will always decrease total surplus in that country, regardless of whether it imports or exports as a result of international trade. True False