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Spring is here, and Yakov and his dad would like to go fishing for the weekend in Washington. Yakov could either go to the river
Spring is here, and Yakov and his dad would like to go fishing for the weekend in Washington. Yakov 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 PRIVATE the countryside to fish. Assume that, no matter where people PROPERTY fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy). 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? All fishermen will choose to fish in the river because of the limited access to the stream. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success. O All fishermen will choose to fish in the stream believing that there are more fish there. O Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river.Sam, Andrew, and Darnell are fishermen who live next to a lake that is open to fishing; in other words, anyone is free to use the lake for fishing. Assume that these men are the only three fishermen who fish in this lake and that the lake is large enough for all three fishermen to fish intensively at the same time. Each year, the fishermen choose independently how many fish to catch; specifically, they choose whether to fish intensively (that is, to place several fishing lines in the water for long periods of time, which hurts the sustainability of the lake if enough people do it) or to fish nonintensively (which does not hurt the sustainability of the lake). None of them has the ability to control how much the others fish, and each fisherman cares only about his own profitability and not about the state of the lake. Assume that as long as no more than one fisherman fishes intensively, there are enough fish to restock the lake. However, if two or more fish intensively, the lake will become useless in the future. Of course, fishing intensively earns a fisherman more money and greater profit because he can sell more fish. The lake is an example of because the fish in the lake are and Depending on whether Andrew and Darnell both choose to fish either nonintensively or intensively, fill in Sam's profit-maximizing response in the following table, given Andrew and Darnell's actions. Andrew and Darnell's Actions Fish Nonintensively Fish Intensively Sam's Profit-Maximizing Response Which of the following solutions could ensure that the lake is sustainable in the long run, assuming that the regulation is enforceable? Check all that apply. Convert the lake to private property, and allow the owner to sell fishing rights. Outlaw intensive fishing. Develop a program that entices more fishermen to move to the area
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