To Solve the Common-Pool Problem in Fishing, Governments Can _____

question 90

Multiple Choice

To solve the common-pool problem in fishing, governments can _____ or _____.​

• A)provide a subsidy; restrict production to the socially optimal level
• B)impose a tax; restrict output​
• C)impose property rights ; prohibit resource use entirely​
• D)impose a depletion tax; make property rights flexible​
• E)provide a subsidy; shutdown all firms in this industry​

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Definitions:

Writing

The act of marking coherent words on a surface or the piece of text itself; in legal contexts, many agreements must be documented in writing to be enforceable.

Electronic Transactions

Deals or exchanges of goods, services, or information conducted over electronic systems like the Internet or other computer networks.

Prudent Businessperson

An individual who exercises care and diligence in making decisions or taking actions in the context of business operations.

Small Business

An independently owned and operated company that is limited in size and in revenue depending on the industry.