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micro p238 8 103104

micro p238 8 103104 - for a smaller amount of people thus...

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Adam Petrone 11/1/04 MicroEconomics Sattinger p. 238 #8 8. a) Fish is a common good. The fishermen have to fish a high amount to increase their income with a good that they are not charged with conserving. b) In principle, the members of the community would not want to see bad times befall their fellow members and would curb their own progress for the sake of others. In reality, this approach will not always be applicable because in the real world, self-interest is far too prevalent. c) The increase in the amount of land where the law is applicable serves to increase the number of obstacles fishermen will have to face and thus make fishing viable
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Unformatted text preview: for a smaller amount of people thus reducing the strain on the fish population. d) By not allowing the amount of active fishermen to decrease, extra strain on the fish population remains and thus the population continues to decrease. e) By giving the fishermen more confidence in their future prospects, they will work to conserve their primary source of income’s future viability, similar in fashion to cattle farmers. f) By enforcing a high priced fishing license for all fishermen, the cost to attempt the profession will increase and thus decrease the number of people that would want to enter it in the future....
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