The waters off the North Atlantic coast were once(answerattached) Question: The

The waters off the North Atlantic coast were once(answerattached) Question: The waters off the North Atlantic coast wereonce teeming with fish. Now due to overfishing by the commercialfishing industry the stocks of fish are seriously depleted. In1991 the National Marine Fishery Service of the U.S. governmentimplemented a quota to allow fish stocks to recover. The quotalimited the amount of swordfish caught per year by allU.S.-licensed fishing boats to 7 million pounds. As soon as theU.S. fishing fleet had met the quota limit the swordfish catch wasclosed down for the rest of the year. The accompanying table givesthe hypothetical demand and supply schedules for swordfish caughtin the United States per year.