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Mashcka [7]
3 years ago
6

Suppose the U.S. National Marine Fisheries Services (NMFS) is considering implementing one of the two policies on fishers in the

Gulf of Mexico with an objective to reduce sea turtle bycatch.
Policy A: Regulation – an allowable bycatch standard (number of turtles) for each fisher. If the fisher violates the bycatch standard (i.e., ends up catching more turtles than the standard allows) at the end of the fishing season, he has to pay a lump sum fine.
Policy B: A bycatch tax on each bycatch (i.e., each turtle caught).

Let us assume NMFS has a perfect monitoring system to see how many turtles are being caught.

If Policy A is implemented, each fisher can either meet the standard by adjusting his fishing behavior. Or, he can pay the fine and harvest as much he wants to maximize his profits without worrying about sea turtle bycatch. If the fisher meets the standard, his profit is $4500 and NMFS benefit is 800 units (think of it as a benefit to society from reduced sea turtle bycatch). If the fisher chooses to pay the fine, fisher’s profit is $3000 and NMFS benefit is $500 (no benefit from reduced turtles but NMFS can use $500 for conservation efforts to protect turtles).

If Policy B is implemented, the fisher can either (i) adjust his fishing behavior, stay away from sea turtles and not pay taxes, or (ii) save on the cost of altering his fishing choices but pay taxes. In reality (from what we saw in class), fishers will typically choose to abate till the efficient level and then pay tax for the remaining amount. Abstract from this scenario for now and construct your tree using the options given to you in the problem. If fisher chooses to abate, firm profit is $3200 and NMFS benefit is $400. If the fisher chooses to pay taxes, firm profit is $3600 and NMFS’s benefit is $450.

What will be the subgame perfect Nash Equilibrium (SPNE) strategies for NMFS and fisher?

A. NMFS will choose policy A (regulation). If NMFS chooses policy A, fisher will choose to pay the fine. If NMFS chooses policy B, fisher will choose to adjust his fishing behavior.
B. NMFS will choose policy B (bycatch tax). If NMFS chooses policy A, fisher will choose to pay the fine. If NMFS chooses policy B, fisher will choose to adjust his fishing behavior.
C. NMFS will choose policy A (regulation). If NMFS chooses policy A, fisher will choose to meet the standard. If NMFS chooses policy B, fisher will choose to pay the bycatch tax.
D. NMFS will choose policy B (bycatch tax). If NMFS chooses policy A, fisher will choose to meet the standard. If NMFS chooses policy B, fisher will choose to pay the bycatch tax.
Business
1 answer:
enot [183]3 years ago
7 0

Answer and Explanation:

A. NMFS will choose policy A (regulation). If NMFS chooses policy A, fisher will choose to pay the fine. If NMFS chooses policy B, fisher will choose to adjust his fishing behavior.

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Action verbs you might use on a job application
kirill [66]
Accomplished, Achieved, Active in, Awarded, Assisted, Broadened, Built, Chaired, Championed, Completed, Delegated, Distinguished, Enacted, Enhanced, Facilitated, Formulated, Graduated, Granted, Handled, Helped, Implemented, Improved, Increased, Initiated, Joined, Kept, Led, Licensed, Managed, Mastered, Navigated, Netted, Obtained, Outlined, Performed, Placed, Qualified, Received, Recorded, Secured, Served, Taught, Trained, Understudied, Undertook, Verified, Volunteered, Widened, Worked.

Hope these help!!!




4 0
3 years ago
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June
alisha [4.7K]

Answer:

See explanation section.

Explanation:

June 1      Petty Cash                                              $450

                Cash                                                                                 $450

To record opening of petty cash.

        12    Cash                                                       $11,381

                   Cash short and Over                                                    $14

                    Sales                                                                             $11,367

To record the sales and finding the cash short and over.

        30    Store Supplies                                       $50

                  Merchandise Inventory                       $108

                  Office Supplies                                     $106

                  Miscellaneous Administrative Expense  $146

                  Cash Short and Over                               $6

                        Cash                                                                             $416

To record the expenses cash short and over.

        30     Cash                                                       $21,860

                   Cash Short and Over                           $19

                         Sales                                                $21,879

To record the sales and finding the cash short and over.

        30     Petty Cash                                             $113

                        Cash                                                 $113

To record the increase of petty cash.

6 0
3 years ago
How do you define marketing? What are the four foundations of marketing and how do they fit into your definition? Based on your
Elan Coil [88]

Explanation:

Marketing is profitably using the results of studying short term and long term needs of those who can pay for a one-time, or in most cases, a steady flow of service or product placement. In 2017 The New York Times described it as "the art of telling stories so enthralling that people lose track of their wallets.[1]

It is one of the primary components of business management and commerce.[2] Marketers can direct their product to other businesses (B2B marketing) or directly to consumers (B2C marketing).[3] Regardless of who is being marketed to, several factors apply, including the perspective the marketers will use. Known as market orientations, they determine how marketers will approach the planning stage of marketing.[4]

The marketing mix, which outlines the specifics of the product and how it will be sold,[5][6] is affected by the environment surrounding the product,[7] the results of marketing research and market research,[8][9] and the characteristics of the product's target market.[10] Once these factors are determined, marketers must then decide what methods will be used to promote the product,[3] including use of coupons and other price inducements.[11]

The term marketing, what is commonly known as attracting customers, incorporates knowledge gained by studying the management of exchange relationships[12][13] and is the business process of identifying, anticipating and satisfying customers' needs and wants.

7 0
4 years ago
Net Present Value Analysis [LO12-2]
zheka24 [161]

Answer:

NPV = $-1,225.37

No. The return is less than 14%, because the net present value is negative

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.  

NPV can be calculated using a financial calculator

Cash flow in year 0 = $-13,000

Cash flow in year 1 and 2 = 420

Cash flow in year 3 = $420 + $16,000 = $16,420.

I = 14%

NPV = $-1,225.37

The return is less than 14%, because the net present value is negative

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

3 0
3 years ago
"A registered representative ("RR") has entered an order to buy 100 shares of ABC at $50 per share for a customer. The transacti
ser-zykov [4K]

Answer: The "RR" may change the account number on the order ticket to the correct number if the branch manager approves in writing

Explanation: According to the scenario described above, the error in the executed order can only be effected based on approval by the branch manager after being notified by the registered representative of the error in the order ticket. The official approval to effect the change in the error made in the account details must be put into writing by the branch Manager for privacy and documentation sake as making such change to an order ticket requires following due process.

5 0
4 years ago
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