African governments wish to reduce the poaching of elephants, which is done to harvest the elephant's ivory from its tusks.If this is the goal, economists would suggest that
A)a price ceiling for ivory should be set, to reduce the price in the market, which would discourage poaching.
B)governments continue to stockpile confiscated ivory, to keep it out of the market.
C)burning ivory reduces the supply, which would reduce the number of buyers.
D)confiscated tusks should be sold by governments because this would lower the price of ivory and reduce the reward to poachers.

Question

Quizplus · Accepted Answer

Confiscated tusks should be sold by governments because this would lower the price of ivory and reduce the reward to poachers. When the supply of ivory increases in the market, the price of ivory decreases. By allowing governments to sell the confiscated ivory, the supply of ivory in the market increases, causing a reduction in price. In turn, this lowers the reward for poachers, reducing their motivation to continue poaching.

African Governments Wish to Reduce the Poaching of Elephants, Which