6. Contrast the challenges of using input controls to manage a fishery with many different inputs, such as long-line tuna, compared to a fishery with few inputs, such as rock lobster. (5 marks) 150-200 words, point form ok for short-answer questions. 7. Consider a static model of the fishery. Suppose the biological mechanics for the fishery are given by the equation F(X) = 120x - 20X2, whereX is the biomass. Also suppose the harvesting function for this fishery is HfE,X) = EX, and that the fishery is in perfect competition with the constant price of output p=40 and constant marginal and average costs per unit of effort c=10. a) Calculate the maximum sustainable yield biomass (XMSY) and the biological carrying capacity (K). (1 mark) b) Write down the conditions that define the bionomic open-access equilibrium and derive the associated level of effort and stock. (3 marks) c) Write down the conditions that define the economically efficient equilibrium (MEY) and derive the associated level of effort and stock. (3 marks) d) Derive the optimal ad valorem (percentage) tax on output that would be required to get this fishery from the bionomic equilibrium to the socially optimal one