Fish in the deep sea are being fished to the point of extinction, yet fish in privately owned fish farms are not. Think like an economist: What explains the difference? choosefrom answers below Group of answer choices a. Deep-sea fishermen can’t afford to be as environmentally conscious as fish farmers. b. Deep-sea fishermen tend to be “present oriented” while fish farmers tend to be “future oriented". c. Deep-sea fishermen do not bear the full costs of their harvesting decisions, while fish farmers do. d. None of the above.

Fish in the deep sea are being fished to the point of extinction, yet fish in privately owned fish farms are not. Think like an economist: What explains the difference? choosefrom answers below Group of answer choices a. Deep-sea fishermen can’t afford to be as environmentally conscious as fish farmers. b. Deep-sea fishermen tend to be “present oriented” while fish farmers tend to be “future oriented". c. Deep-sea fishermen do not bear the full costs of their harvesting decisions, while fish farmers do. d. None of the above.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 13SCQ: A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals...

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A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
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