In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory.Economists tend to point out that
A)poaching can be reduced with price supports for ivory.
B)the supply of ivory has fallen, leading to an increase in price and reward for poaching.
C)burning ivory decreases demand, leading to lower prices and reward for poaching.
D)the demand for ivory is higher, leading to an increase in price and reward for poaching.
E)burning ivory raises demand, and controlled prices will lead to even greater poaching.

Question

Quizplus · Accepted Answer

Burning ivory reduces the supply of ivory in the market. With less ivory available, the price of ivory increases due to its scarcity, potentially making poaching more lucrative as the reward (price) for obtaining ivory increases.

In an Attempt to Reduce Poaching of Elephant Tusks for Ivory