11.Which of the following statements is TRUE? I. Overfishing results from fish being privately owned by profit-maximizing firms. II.If a fisherman catches a lot of fish, he creates a negative externality because there are fewer fish for everyone else to catch. III. There is no incentive for an individual to fish less simply to leave more fish for everyone else to catch.
12.If most cartel members keep their agreement to cut back production:
13.(Figure: Kidney Trade Ban Policy Spectrum) Refer to figure. If A, B, and C are all candidates in the election, and an open market for kidney trading is the only issue being debated, based on the median voter theorem, which candidate will win the election?
14.Total surplus increases with the practice of price discrimination only if: A)consumer surplus increases. B)price increases. C)output increases. D)producer surplus increases.