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True or False: When fish are caught under common property rights, the market price of fish...

True or False: When fish are caught under common property rights, the market price of fish can send misleading information to demanders and suppliers about the opportunity cost of fish consumption.

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Answer #1

Answer: True

When Fish are caught under common property rights it states that fish are owned by a certain group of people and not by an individual. When fish are under common property rights any change in the market price of fish will give an assumption to the consumer that these price is set by those group of people and they are the reason for it. So even it iis the market price at which they are selling but the consumer may be having this misleading information and even the supplier will think that because of this people everything is happening. Opportunity cost of consumption of fish also changes with both demanded and suppliers as they have this misleading information of the market price of fish.

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