The fish in the river are considered_ rival in consumption rival in consumption v and_ excludable the fish in the private pond are an example ofa private good and_ excludable . In other words, the fish in the river are an example of a common resource whereas the fish in the private pond are and 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 pond. Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success. All fishermen will choose to fish in the pond believing that there are more fish there.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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5. Common resources versus private goods
Spring is here, and Brian and his grandfather would like to go
fishing for the weekend in Vermont. Brian could either go to
the river in town where anyone can fish without a permit, or
he could drive up to a pond located on his family's property
PRIVATE
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).
Transcribed Image Text:5. Common resources versus private goods Spring is here, and Brian and his grandfather would like to go fishing for the weekend in Vermont. Brian could either go to the river in town where anyone can fish without a permit, or he could drive up to a pond located on his family's property PRIVATE 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).
rival in consumption
v and
whereas the fish in the private pond are
The fish in the river are considered
excludable
rival in consumption
v and
excludable
In other words, the fish in the river are an example of a common resource ▼
, and
the fish in the private pond are an example of
a private good
Fishing in the river will likely lead to
because of which of the following reasons?
O All fishermen will choose to fish in the river because of the limited access to the pond.
O Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river.
O 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 pond believing that there are more fish there.
Transcribed Image Text:rival in consumption v and whereas the fish in the private pond are The fish in the river are considered excludable rival in consumption v and excludable In other words, the fish in the river are an example of a common resource ▼ , and the fish in the private pond are an example of a private good Fishing in the river will likely lead to because of which of the following reasons? O All fishermen will choose to fish in the river because of the limited access to the pond. O Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river. O 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 pond believing that there are more fish there.
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