standpoint of economic efficiency, is there any justification for such a requirement? Which of the following goods or services are public? Why or why not? Libraries Fire protection Television programs Health care Water for household consumption 10 If a village in Botswana is granted several licenses to kill elephants, how does this give it an incentive to preserve elephants and increase the size of the herd? How does the international ban on ivory sales affect the incentive in Botswana to preserve the elephant? 11 The number of fish caught in the ocean has fallen in recent years partly as a result of more intensive fishing efforts and the use of more sophisticated equipment Fish in the ocean are a common property resource How might this fact be related to declining fish catches? How you think this drop in the catch affects the price of seafood? NUMERICAL PROBLEMS Joe Higgins is thinking about how much time to spend studying for a biology exam tomorrow Using “utility units” he measures the benefits and costs of study; his calculations are shown in the following table Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ Saylor.org 345