Question

Q2

(a) Suppose the fishery allowed free access. Would a fall in the price of fish generally result in a larger or smaller harvest?

(b) Suppose the fishery is managed at MSY, would a fall in the price of fish result in a larger or smaller harvest?

(c) Suppose the fishery is managed at MEY, would a fall in the price of fish result in a larger or smaller harvest?

(d) Explain how does the technological progress (that lowers the harvesting costs) influence the fishery under the three management regimes (i.e., open access, MSY and MEY)

Answer 1

a) If fisheries allowed free access model,it like as perfect competition market base.so it face the characteristics of that having lot of independent fish units selling competitive prices. if the fall in the price of fish generally result in a smaller harvest.and also availability become very large.

b) if the fishery managed at Maximum sustainable yield base, that lead to larger harvest when the price of fish become fall.because they are trying to better sustainability of this resourse that helpful for future also.

C) In maximum economic yield ,if the price of fish results fall then larger harvest for the economical benefit to whole of society.

d)if the technological progress is better then that will lead to lower the harvesting cost which influe the fishery under different management regimes in different way.
On open access it will lead to legatively and they can't much access this resourse very freely.
On the MSY it is very helpful for the sustainability and harvesting areas.
On the MEY which also most benefit and got a better economic benefit in the harvesting method.