Downeaster "Alexa"

Media Type: Music Topic: Game Theory, Government & the Economy, Externalities & Pollution, The Firm

Billy Joel

To listen to this song, click here.

What barriers to entry exist in the fishing industry? Are these barriers significant enough to create firm-specific pricing power? Ocean waters also present a common property problem. If competitors in the fishing industry cannot prevent new entrants into the market and all of the competitors fish the same waters, what are the prospects for long-run profits?

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