110


catch larger proportions of the lower priced grouper will tend to have

lower profit levels.

 The total number of vessels in the reef fishery necessary to pro-

duce MEY is estimated at approximately 180. A comparison with the 1975

number of vessels in the fishery indicates that a 64 percent reduction

in the total number of vessels operating in the fishery is required to

maximize profit in the fishery. The implied changes in vessels neces-

sary to achieve MEY on a state by state basis are shown in Table 12.

Examination of these results indicates that the number of vessels in

Florida, Louisiana and Texas must be reduced significantly. Louisiana

is completely eliminated from the fishery.


Table 12. Number of reef fish vessels in 1975 and the economically
 optimum number of vessels by state


 Actual number of Number of vessels Pcna
State reef fish vessels, necessary to chnge
 1975 catch MEY change


Florida 425 136 -68

Alabama 11 18 +59

Mississippi 18 25 +38

Louisiana 14 0 -100

Texas 34 1 -96


 TOTAL 502 180 -64

 aThe determinants of fishing power are fixed at 1975 levels of
average crew and vessel size in each state.