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Unformatted text preview: open access ﬁshery to choose the rent maximizing level of effort. (b) On a graph which shows AC and MC Curves, illustrate the tax which causes an open access ﬁshery to choose the rent maximizing level of effort. (c) On a graph which shows Total revenue and Total Cost Curves, illustrate the tax which causes an open access ﬁshery to choose the rent maximizing level of effort. (d) Find the optimal tax. (e) Find the optimal quota. 2. List two problems, and explain brieﬂy, with using taxes to manage an open access ﬁshery. 3. List two problems, and explain brieﬂy, with using quotas to manage an open access ﬁshery. 1...
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This note was uploaded on 11/04/2010 for the course ECO 314 taught by Professor Matthewturner during the Spring '08 term at University of Toronto Toronto.
 Spring '08
 MATTHEWTURNER

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