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Micro economics homework - Assignment Example

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Established in 1977, the main purpose of Sea Shepherd’s campaign is “to end the destruction of habitat and slaughter of wildlife in the worlds oceans in order to conserve and protect ecosystems and species” (Sea Shepherd Conservation Society a, b). In line with this, the…
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ID Number & Micro-Economics Homework Q Do you agree with the Sea Shepherd’s campaign? Please provide your argument?
Established in 1977, the main purpose of Sea Shepherd’s campaign is “to end the destruction of habitat and slaughter of wildlife in the worlds oceans in order to conserve and protect ecosystems and species” (Sea Shepherd Conservation Society a, b). In line with this, the Sea Shepherd does not only investigate but also document and take actions against illegal activities with regards to marine life.
I strongly agree with the Sea Shepherd’s campaign. Without an international organization that could protect and conserve the marine wildlife, countries like Iceland, Japan, and Norway may end-up continuously and excessively kill endangered species like the humpback and the fin whales either for scientific research and/or commercial purposes (McCurry; Sea Shepherd Conservation Society b, c).
Q.2 Why are whales endangered while chickens aren’t? What is the main economic reason?
The farmers can easily breed chicken but not whales. During the breeding period, the farmers can just put a rooster and hens inside a cage for several days and allow the hens to sit on their eggs while on the nests (Lyons, Collier and Silvy). After a short span of more than 21 days, the farmers can already expect the eggs to hatch (Loch, de Oliveira and de Silva).
Even though the birth of twins is possible, Day revealed that “most females will only give birth to one calf at a time” as compared to multiple eggs in the case of the chicken. Furthermore, it usually takes a longer period of time (between 11 to 17 months) before a female whale can give birth (Day). This explains why the farmers can easily increase the supply of chicken but not the supply of whales.
Earlier, it was mentioned that most whales are killed either for scientific research and/or commercial purposes. Considering the differences between the breeding period requirements of chicken and whale, a significant increase in demand for whales would definitely mean an increased risk of endangering the whale species.
Q.3 Does the Sea Shepherd’s attempt to cut short of Nisshin Maru’s whaling season always lead to lower revenue of the whaling company? Why or why not.
The Sea Shepherd’s attempt to cut short of Nisshin Maru’s whaling season does not always lead to lower revenue on the part of the whaling company not unless there is a strict government intervention with regards to its selling price. To be able to clearly understand this argument, one has to be clear that a whale is not a homogenous product wherein the buyers could easily find an alternative product (Tewari and Singh 165). Since whales are considered as heterogeneous or differentiated products, the whaling company has the advantage to dictate the market prices of whale products.
Based on a simple micro-economic explanation, it is the supply and demand curve that dictates the market price of a product. Given that there is a significant decrease in the supply of whales, the supply curve tends to shift to the left. Therefore, the market price of whales will increase from “P” up to “P1”. Because of the significant increase in the market price of whales, it is unlikely that the whaling company could yield much lower revenue in case the Sea Shepherd’s attempt to cut short of Nisshin Maru’s whaling season. (See Graph I – Demand and Supply Curve of Whales below)
Graph I – Demand and Supply Curve of Whales
References
Day, Nellie. “About Whale Breeding”. eHow, 2012. Web. 30 May 2012.
Loch, Fernando Carlos, et al. "Quality of poultry litter submitted to different treatments in five consecutive." Revista Brasileira de Zootecnia 40.5 (2011): 1025-1030.
Lyons, Eddie K., et al. "Breeding and Non-Breeding Survival of Lesser Prairie-Chickens Tympanuchus pallidicinctus in Texas, USA." Wildlife Biology 15.1 (2009): 89-96.
McCurry, Justin. “ Japan suspends whale hunt after harassment by activists. Tokyo considers halting Antarctic mission, blaming Sea Shepherd conservation group for obstructing fleets mother ship”. The Guardian, 16 February 2011. Web. 30 May 2012.
Sea Shepherd Conservation Society. “Who We Are”. Sea Shepherd Conservation Society, 2012 a. Web. 30 May 2012.
Sea Shepherd Conservation Society. “The Whales Navy. In Defense of Whales Worldwide”. Sea Shepherd Conservation Society, 2012 b. Web. 30 May 2012.
Sea Shepherd Conservation Society. “The History of Sea Shepherd Conservation Society and Whaling”. Sea Shepherd Conservation Society, 2012 c. Web. 30 May 2012.
Tewari, D.D. and Katar Singh. Principles of Microeconomics. New Delhi: New Age International Publishers, 2003. Read More
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