Suppose that the biological mechanics for a fishery are, Ask an Expert

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Suppose that the biological mechanics for a fishery are given by the equation F(X) = aX - bX^2 , where X is the biomass of the fishery, and a and b are biological parameters assumed to be constant and positive. Suppose that harvesting of this species is always equal to H tons per instant of time, where H is less than the maximum sustainable yield (MSY).

1. What is X MSY , the maximum sustainable yield (MSY) biomass? What is the maximum sustainable yield (MSY)?

2. What is the biological equilibrium of the fishery when there is no harvesting?

3. What is the bionomic equilibrium?

4. Explain both in words and using a graph how a steady-state bionomic equilibrium will be obtained starting from:

a. the biological equilibrium

b. a biomass level less than X MSY.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91866298

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