In the context of the Tragedy of the Commons, which of the following policy interventions is most likely to effectively mitigate the overuse of a common resource, such as a public fishing area? A) Implementing a quota system that limits the total allowable catch for each fisherman. B) Encouraging voluntary cooperation among fishermen to reduce their catch. C) Providing subsidies to fishermen for every unit of fish caught below a certain threshold. D) Relying solely on public awareness campaigns to promote sustainable fishing practices.
In the context of the Tragedy of the Commons, which of the following policy interventions is most likely to effectively mitigate the overuse of a common resource, such as a public fishing area? A) Implementing a quota system that limits the total allowable catch for each fisherman. B) Encouraging voluntary cooperation among fishermen to reduce their catch. C) Providing subsidies to fishermen for every unit of fish caught below a certain threshold. D) Relying solely on public awareness campaigns to promote sustainable fishing practices.
Chapter1: Making Economics Decisions
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Question: In the context of the Tragedy of the Commons, which of the following policy interventions is most likely to effectively mitigate the overuse of a common resource, such as a public fishing area? A) Implementing a quota system that limits the total allowable catch for each fisherman. B) Encouraging voluntary cooperation among fishermen to reduce their catch. C) Providing subsidies to fishermen for every unit of fish caught below a certain threshold. D) Relying solely on public awareness campaigns to promote sustainable fishing practices. Don't use chatgpt please provide valuable answer
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