With a quota of 40 tons a month for the tuna fishing industry, what is the equilibrium price of tuna and what quantity for tuna fishers catch? Is the equilibrium an overfishing equilibrium?
The figure shows the market for North Atlantic tuna
Figure 17.6

Transcribed Image Text:

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