Alaska king crab fishing in the 1960s and 70s was a dangerous but rich fishery. Boats from as far away as California and Japan braved treacherous waters to reach the abundant king crab beds in Cook Inlet and Bristol Bay, major waters along the southern Alaska coast. In the early 1980s, the fishery crashed due to overfishing. All crabbing in those areas ended. To this day, there is no crabbing in Bristol Bay or Cook Inlet.

a. How would an economist explain the decline of the Alaska king crab fishery?

b. Explain two programs you could institute to protect the fishery and still allow some crabbing again.

c. Canada has been very successful in farming salmon by using floating nets in deep and long coastal inlets, confining the salmon in their natural environment as they grow. The government limits the number of salmon farms allowed to operate. Why has Canada been successful with salmon while crab fishing in Alaska crashed?