ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 17, Problem 1.2P
To determine
The authorities find it difficult to regulate fishing activity in the ocean to maintain sustained yield.
Concept Introduction:
The renewable resources for which no restriction can be imposed and can be accessed by everyone are known as common pool resources. Common pool resources may be natural or man-made such as irrigation, fishing, etc.
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