Two fishing companies are competing for fish.Each company wants to maximize its profits by harvesting as many fish as possible,but if both companies do this,the fish population will become depleted.If both companies agree to set limits on the number of fish that they harvest,they will achieve the best joint outcome.This situation is an example of ____.

Question

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This situation is an example of a social dilemma, where each individual or group pursues their own self-interest, which leads to a suboptimal outcome for everyone involved. In such a situation, cooperation and collaboration can lead to the best joint outcome.

Two Fishing Companies Are Competing for Fish