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In: Economics

1.(a) What would the biological growth curve look like if a critical stock size exists below...

1.(a) What would the biological growth curve look like if a critical stock size exists below which growth rates become negative and the stock evolves to zero? (b) What would be the efficiency implications of granting a fishery to one individual as a sole owner? (c). Why is there a difference between the maximum sustained yield and the economically efficient sustained yield?

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