AS Paper 1, June 2022Introduction to Markets and Market Failure
AS Paper 1, June 2022, Q6(f)
Some economists suggest that the market price of cod does not result in the socially optimum level of output. Evaluate the likely external costs from the over-fishing of cod. Use an appropriate diagram in your answer.
EssayEvaluateOptional20 marks
Case study
The market for fish
Original diagram required. See the original question paper for the diagram.