Questions on Economics, Animals, Overfishing, and Trans Fat

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Page 148/ Chapter 7
Question #3

Question #8
The number of elephants and rhinos are declining in nations where animals are housed on national parks and rising in nations where the animals are privately owned and farmed by individuals due to property rights and private goods. Most nations where elephants and rhinos are housed on national parks a common ownership has been established by the government and the responsibility for these animals is not individualized by any one person, thus, the proper care that is needed is not delivered. However, in nations where individuals are allowed to own elephants and rhinos, responsibility is clear and maintenance is adhered. Nations were there are individual owners the stakes for healthy animals are much higher and necessary.

Page 175 Chapter 8
Question #6
Economists say that discrimination is inherently inefficient because the employer and organization is decreasing profits from qualified and efficient employees of different nationalities. Firms would add additional cost by collecting information about each applicant or risk hiring some of the lower-quality employers to satisfy their discrimination. Employing the right applicant is currently a difficult task for many employers but by narrowing the applicant pool by solely on nationality is very inefficient and costly for the organization.

Question #9
The fundamental problem associated with overfishing of the oceans is the possible a lack of supply. Although fish are considered a renewable resource, there must be enough members of that species available to reproduce. Question #10

When comparing a ban on trans-fat to a ban on cocaine the difference rests in the supply and enforcement of the two. Trans fat is produced and supplied in a regulated and controlled market where as illicit drugs are regulated by a cartel. The two different markets would explain which ban would be easier to enforce. Considering the fact that trans-fat is not produced or sold on the...
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