Overfishing certain parts of the ocean and certain species of fish has been a problem for centuries
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Overfishing certain parts of the ocean and certain species of fish has been a problem for centuries with countries actually going to war over fishing disputes. Ronald Coase would suggest that there would be no the problem if
a. Someone owned (and could control) the ocean.
b. People stopped eating fish.
c. People reacted according to the golden rule.
d. Countries agree to voluntary restrictions on fishing.
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a Someone owned and could control the ocean Explanation Common property is prope...View the full answer
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