Suppose that the fishery example discussed in the chapter was not a common property resource, but was a lake fishery owned by an individual or a single firm. The owner could choose to allow fishing and charge a fee for access to the lake.

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Suppose that the fishery example discussed in the chapter was not a common property resource, but was a lake fishery owned by an individual or a single firm. The owner could choose to allow fishing and charge a fee for access to the lake. How would the economic logic differ from the common property resource case? Would a greater net social benefit accrue? Who would receive this net social benefit?

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