Home > Term: maximum economic yield (MEY)
maximum economic yield (MEY)
This is the total amount of profit that could be earned from a fishery if an individual owned it. An open-entry policy usually results in participation by so many fishermen that profits higher than opportunity cost (economic rent) are driven to zero.
- Part of Speech: noun
- Industry/Domain: Fishing
- Category: Marine fishery
- Organization: NOAA
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Creator
- J Thomas
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