QUESTION 8 Choose a wrong statement about the policies designed to reduce the catch. Transfer costs involve the transfer of resources from one part of society to another. While the policies of raising the cost of fishing may result in an efficient catch, they are inefficient because the efficient level of catch is not caught at the lowest possible cost. Raising the marginal cost of fishing effort results in a lower harvest and higher stock sizes. O The taxes on fishing effort can lead to the efficient sustainable yield allocation because the tax revenues represent real-resource costs