If the government issues ITQs to individual fishers that limit the total catch to the efficient quantity,

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If the government issues ITQs to individual fishers that limit the total catch to the efficient quantity, what is the market price of an ITQ?
The figure shows the market for North Atlantic tuna
Figure 17.6

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:26 AM

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If the government issues ITQs to individual fishers that limit the total catch to the efficient quantity,

Question:

300 MSC 250 200 MC 2 150 100 50 MSB 40 80 120 Quantity (tons per month)

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The price of an ITQ equals the marginal ...View the full answer

Microeconomics

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