Problem based question: Assume the following set of parameters of a Logistic Growth function for a fishery: r = 0.2, K=1500, X0 = 500.

Also, assume that the price of fish is 3 per unit of biomass. And the cost of fishing is 2 per unit of effort.

a). Calculate the MSY in terms of the stock and harvest.

b). Calculate the MEY in terms of the stock and harvest

c) Calculate the Open Access equilibrium in terms of the stock and harvest.