Problem
a. In the typical economic model of an efficient fishery would a fall in the price of fish generally result in a larger or a smaller sustainable harvest? Why?
b. Suppose the fishery allowed free access. Would a fall in the price of fish generally result in a larger or a smaller harvest? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.