Suppose Fishermen Go Fishing at a Fishery That Has No

Multiple Choice

Suppose fishermen go fishing at a fishery that has no property rights (meaning any fishermen could fish as she liked) . The marginal cost of a fishing boat is constant at $100, and the price for each pound of fish sells at $1. Further, assume the relation between the number of vessels and the total catch is given by the following table: Each boat that goes out get an equal share of all the fish caught and there are 8 boats possible. $$\begin{array} { l l } \begin{array} { l } \text { Number } \\\text { of } \\\text { Vessels }\end{array} & \begin{array} { l } \text { Total } \\\text { Catch } \\\text { (lb) }\end{array} \\\hline 1 & 400 \\2 & 800 \\3 & 1100 \\4 & 1300 \\5 & 1401 \\6 & 1400 \\7 & 1300 \\8 & 1300 \\\hline\end{array}$$ If there were no controls over fishing, how many vessels would be sent out fishing?

A) 0
B) 6
C) 7
D) 8