4. Common resources versus private goods Spring is here, and Yvette and her brot

Question

4. Common resources versus private goods Spring is here, and Yvette and her brother would like to go fishing for the weekend in New Hampshire. Yvette could either go to the river in town where anyone can fish without a permit, or she could drive up to a stream located on her 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 private stream are consideredand nonrival in consumption whereas the fish in the river are and rival in consumption other words, the fish in the private stream aEmpe or Session 59:05 Timeout

Explanation / Answer

1. Non rival in consumption

2. Excludable

3.Non rival in consumption

4. Excludable

5. private Good

6. A common resource

7 Adverse selection as anyone can fish in river.

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