Spring is here, and Brian and his dad would like to go fishing for the weekend i

Question

Spring is here, and Brian and his dad would like to go fishing for the weekend in Vermont. Brian could either go to the river in town where anyone can fish without a permit, or he could drive up to a stream located on his family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is there is no "catch and release" policy). PRIVATE PROPERTY The fish in the river are considered and whereas the fish in the private stream are and In other words, the fish in the river are an example of ,and the fish in the private stream are an example of Fishing in the river will likely lead to because of which of the following reasons? O Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success. All fishermen will choose to fish in the river because of the limited access to the stream. Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river O All fishermen will choose to fish in the stream believing that there are more fish there.

Explanation / Answer

The fish in the river are considered non-excludable and rival whereas ...excludable and rival. In other.... commons good and the....private good.

Fishing.....tragedy of the common because ...

1> Anyone can fish in the river....

Reason

This is a classic problem of free-riding where each one wants to enjoy free lunch.

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