Question

Using the classic graph of benefits and costs of fishing effort, which of the following can be said with certainty? a. The open access level of effort is the level that leads to the lowest stock size among the possibilities of interest b. The maximum sustainable yield point could in fact be dynamically efficient, by coincidence C. The level of effort that corresponds to static efficiency is definitely smaller than the open access level, so the stock size would be larger if we chose to promote static efficiency in fishery management. d. All of the above are true

Answer 1

D) All of the above

Using the classical graph of benefits and costs of fishing efforts the open access level of efforts is the level that leads tothe lowest stock size among the possibility of interest,the maximum sustainable yield point could in fact be dynamically efficient by coincidence and the level of efforts that corresponds to static efficiency is definately smaller then the open access level so the stock size would be large if we choose to promote statics efficiency in fishery management.