Now no one has an incentive to cheat and exceed the quota because to do so would

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Now no one has an incentive to cheat and exceed the quota because to do so would send marginal cost above the market price and result in a loss on the marginal catch. The outcome is efficient.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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