a) Sketch and label the following three major parts of a Bio-economic curve in terms of the Total Cost and Total Revenue

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A Sketch And Label The Following Three Major Parts Of A Bio Economic Curve In Terms Of The Total Cost And Total Revenue 1 (182.03 KiB) Viewed 32 times

a) Sketch and label the following three major parts of a Bio-economic curve in terms of the Total Cost and Total Revenue relationship: Maximum Economic Yield, Maximum Sustainable Yield and Open-Access Equilibrium b) A fishing boat moves into a bay and begins to fish an isolated single species fish stock removing 70% each year. The Gordon Schaefer curve for the stock is shown below. Assuming that the fishery opens at the end of year 0, ahead of reproduction and growth, and where Stock at to is 7.4 tonnes and Growth at to is 0, calculate the stock size at the end of 2 years? (You may round off to one decimal place throughout your calculations) (to = time zero) c) In the above scenario, is this a sustainable or non-sustainable fishery and support your reasoning? 2.5 2.0 1.5 Growth (tonnes per year) 1.0 0.5 0.0 0 1 2 3 5 6 7 Stock (tonnes)