32. Sharks in the Mozambique Chanmel are a common resoaree Sharks are caught in the Mozambique Channel for their fins to be used in the delicacy shark fin soup. Draw a diagram repacscnting the demand cure for shark fin soup and the siipply einve fir dark fin inin lantify the equilibrium price and cantiry in th market. Part : Assume that the social costs of overfishing for sharks are not included in the shark fin soup producers' costs. Draw a marginal social cost curve that includes the social costs associated with the shark fin soup market aidb Part 2: Identify the eew cquilibriuns indicatieally optimal aoust of sbark fin soup that would be produced by if sreial ests were completely accunted fre hy the shark fin sn market produood Part 3: Describe policy the guwernmcnl can pursue to ensure that only the optimal level of shak lin soup is being manufactured and that overtishine foe sharks dees not oecur IExtra Credit 1 poinrl: What mighr limit the povemment's elfeclieness in implementing the governmens policy you've lenlified to address the overflishing problem?
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