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-Refer to Figure 15-14

Question 67

Multiple Choice

-Refer to Figure 15-14. The current market equilibrium output is partly the result of overfishing. In that case, what does S<sub>1</sub> represent? A) the private marginal benefit of harvesting salmon B) the social marginal benefit of harvesting salmon C) the private marginal cost of harvesting salmon D) the social marginal cost of harvesting salmon
-Refer to Figure 15-14. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?


A) the private marginal benefit of harvesting salmon
B) the social marginal benefit of harvesting salmon
C) the private marginal cost of harvesting salmon
D) the social marginal cost of harvesting salmon

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