a) Sketch the sustainable yield curve for the Beverton-Holt fishery model and explain its shape. b)...

 

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a) Sketch the sustainable yield curve for the Beverton-Holt fishery model and explain its shape. b) Assume a production function of the type Y= EqS, where Y is the catch of fish, E is fishing effort, S is the exploited fish stock, and q is a given parameter. What is the rationale for this function and what does it imply for the cost per unit of fishing mortality? c) Assume a constant price of fish and show (i) the bioeconomic equilibrium under open access, and (ii) economically optimal exploitation. Compare these two solutions. d) Assume an unregulated fishery in bioeconomic equilibrium. Then mesh size regulation is introduced, allowing only larger meshes. What will be the effect of this regulation on fish catch, fishery profits and fishing effort in the long and the short run? a) Sketch the sustainable yield curve for the Beverton-Holt fishery model and explain its shape. b) Assume a production function of the type Y= EqS, where Y is the catch of fish, E is fishing effort, S is the exploited fish stock, and q is a given parameter. What is the rationale for this function and what does it imply for the cost per unit of fishing mortality? c) Assume a constant price of fish and show (i) the bioeconomic equilibrium under open access, and (ii) economically optimal exploitation. Compare these two solutions. d) Assume an unregulated fishery in bioeconomic equilibrium. Then mesh size regulation is introduced, allowing only larger meshes. What will be the effect of this regulation on fish catch, fishery profits and fishing effort in the long and the short run?

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Lets go through each part of the question one by one a The BevertonHolt model is an agestructured model used to describe fish populations and the sustainable yield of fisheries When graphically repres... View the full answer