Answer these questions correctly
Suppose that a fishery is characterized by the following relationship between total fish stock and annual growth (note STOCK is in thousand tons, GROWTH is tons) STOCK 10 20 30 40 50 60 70 80 90 100 120 (thousand tons biomass) GROWTH 0 800 1600 2400 2800 3000 2800 2200 1200 0 -1200 (tons) Construct a graph showing the relationship between stock and growth. Construct a second graph showing the growth rate at each stock level (for example, at stock = 60,000 tons, yield = 3,000 tons, growth = 5%). Answer the following questions: a.)What stock level corresponds to the maximum growth rate? b.) What stock levels gives the maximum sustainable yield? c.) What will be the stable and unstable equilibrium stock levels for this fish population in a natural state?MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A market served by only one firm is called a(n): 1) A) oligopoly. (B) monopoly. C perfectly competitive market. D) Any of the above could be correct. 2) A firm that has market power has the ability: 2) At A) to affect the price of its own product BJ to drive its competition out of the market. () to command consumer to buy any quantity from them. Dj to conduct illegal activities without fear of prosecution. 3) Which of the following is NOT a characteristic of a monopoly? (A) A monopolist is a price-taker. B) There exist barriers to entry. () There is only one seller. D) A monopolist's sales revenue is constrained by the market demand. () When economists say a market has "barriers to entry" they refer to: (A) factors that prevent other firms from challenging a firm with market power. Bj economic profits that are positive, but too high to encourage entry. Ca policy that some countries establish to reduce imports from other countries. Dj monopolists being prohibited from selling their products to certain customers, 5) Which of the following is NOT an artificial barrier to entry? 5 ) B A) government franchise B) large economies of scale C) government licensing Dj a patent 6) A monopoly may arise due to: 6) D A) a patent. B) large economics of scale. () net work externalities. Dj all of the above 7) Facebook is a social networking Web site that is used by a growing number of individuals. Because of its popularity, it is now more difficult for new networking websites to enter and compete with Facebook. Facebook enjoys as a barrier for others to enter the market. A) a network externality B) price discrimination C) economies of scale Dj a negative externality 8) The demand curve that a monopolist faces is: D A) generally flatter than the demand curve that faces a perfectly competitive firm. Bj the same as the demand curve that faces a perfectly competitive firm. C) not affected by changes in the prices of other goods, Di the market demand curve.Problem 6 The stage game below, where 1 e: x
