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In the economic model of the fishery developed in this chapter, compare the effect on fishing effort of an increase in cost of a fishing license with an increase in a per-unit tax on fishing effort that raises the same amount of revenue. Assume the fishery is private property. Repeat the analysis assuming that the fishery is a free-access common property resource.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9678499

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