Consider the following background information and policy problem: Background: Local ecologists know that the maximum sustainable yield from a fishery is 30% of the current fish population. Extracting more than 30% of the current amount of fish will cause permanent ecosystem damage and destroy the fishery for future anglers. If less than 30% of fish are extracted, the fish population can replenish naturally and there is no effect on future anglers. Policy problem: With no regulation, there is an incentive to over-fish and deplete the fishery at the expense of future anglers. Would this problem be best solved by charging a tax on each fish extracted or by setting a cap on total fishing and allowing anglers to buy and trade fishing permits