(Answered) Question suppose that a small fishing community in a

Management Studies

Question: Suppose that a small fishing community in a developing country has been operating successfully for centuries without any regulations. Each fishing family owns a boat and makes a small profit. However, suppose that climate change reduces the health of the fish stock, and the community is forced to reduce its overall fishing activities. Should the community institute an auction system to allocate fishing rights or begin charging a license fee? Can you think of a fair way to reduce the community's fishing activities?

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