Some nominally closed resources are effectively open access. For example, to gain entry to Yellowstone National Park
Question:
Some nominally closed resources are effectively open access. For example, to gain entry to Yellowstone National Park by automobile one must pay a fee of $25. But during the popular summer months, at this price, far more people want to drive into the park than can be readily accommodated by its roads. The result is terrible road congestion, added air pollution, and frayed tempers. In fact, the park is then (very nearly) an open access resource, heavily visited by many but not fully appreciated by any, at least during the peak season. The National Park Service could transform Yellowstone into a closed access resource simply by raising the entry fee. Explain who would gain and who would lose by doing so. Why do you think the Park Service has thus far refused to raise the entry fee? Explain.
Step by Step Answer:
The Economics of Public Issues
ISBN: 978-0134018973
19th edition
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North