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The diagram immediately below shows the free market for Southern Ocean tuna. Price and cost (dollars per tonne) MSC 300 250 200 MC 150 100

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The diagram immediately below shows the free market for Southern Ocean tuna. Price and cost (dollars per tonne) MSC 300 250 200 MC 150 100 50 MSB 40 80 120 Quantity (tonnes per month) What is the likely quantity of tuna that fishing boats will catch and what is the likely price of tuna? Also assuming no government intervention, how much overfishing would there be (in tonnes)? And what kind of government intervention could be used to ensure that the socially optimal number of fish are caught

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