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.  If the fishery was own collectively by all the fishermen, how many boats would be sent out fishing?

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


Answer: D

Economics

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