Can a man treat his wives fairly?

Yes, it is possible

Marry of the women, who seem good to you, two or three or four; and if ye fear that ye cannot do justice (to so many) then one (only) or (the captives) that your right hands possess. 4:3

No, you will not be able to do so

Ye will not be able to deal equally between (your) wives, however much ye wish (to do so). 4:129

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