According to Garrett Hardin in his classic article about the tragedy of the commons in the environment, self- interest is likely to lead individuals and organisations to behave in ways that will not sustain our shared resources, therefore Select one Oa Constraints must be placed on the use of commons (e the environment) O b. Resources are unlimited Oc Companies can manage common resources Od. Individuals are free to use common resources

According to Garrett Hardin in his classic article about the tragedy of the commons in the environment, self- interest is likely to lead individuals and organisations to behave in ways that will not sustain our shared resources, therefore Select one Oa Constraints must be placed on the use of commons (e the environment) O b. Resources are unlimited Oc Companies can manage common resources Od. Individuals are free to use common resources

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 44P: In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible...

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In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between K and L, can you say which one is better and why? In the choice between K. and N, can you say which one is better, and why? If you had to guess, which choice would you think is move likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?
A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwoods forest and grow com, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table 12.11 shows possible combinations of economic output and environmental protection. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between T and R, decide which one is better. Why? In the choice between T and S, can you say which one is better, and why? If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice Q or S? Why?
What are the two characteristics of a common resource? give an example of a common resource and briefly explain the tragedy of the commons.
The “tragedy of the commons” is most likely to occur with which one of the following goods? Question 12Select one: a. A national forest b. A mineral ore deposit c. A public highway d. A city park e. A groundwater aquifer
(c) Why are fish in the ocean an example of a resource that suffers from the tragedy of the commons but cattle grazing in a farmer’s pasture does not suffer from the tragedy of the commons
A country called Sherwood is very heavily covered with a forest of 50,000 trees. There are proposals to clear some of Sherwood’s forest and grow corn, but obtaining this additional economic output will have an environmental cost from reducing the number of trees. Table shows possible combinations of economic output and environmental protection. a. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the number of trees, and the quantity of economic output, measured in corn, on the vertical axis. b. Which choices display productive efficiency? How can you tell? c. Which choices show allocative efficiency? How can you tell? d. In the choice between T and R, decide which one is better. Why? e. In the choice between T and S, can you say which one is better, and why? f. If you had to guess, which choice would you think is more likely to represent a command-and-control environmental policy and which choice is more likely to…
3. People frequently consume more than they realize in the commons issue because Group of answer choices the "commons" are divided into equal parts. others take on a cooperative strategy. they belong to a small group. resources are not partitioned.
Asap plz... Use a diagram and explain how the total net benefit will be changed if an externality exists in a market
Suppose that a mayor of a large city believes strongly that education provides great benefits to the community andurges the state government to provide the district with more money. An economist would say that this reflects theMayor's belief that:Asince teachers are overpaid, the district needs more money to hire enough teachers for its classrooms.Bthere are positive external benefits associated with education.Cthere are nontrivial external costs associated with education.Dpublic schools provide a higher quality education than private schools.
(a) Define the tragedy of the commons in your own words. (b) Why are fish in the ocean an example of a resource that suffers from the tragedy of the commons but cattle grazing in a farmer’s pasture does not suffer from the tragedy of the commons?
Fish that swim in international waters are a common good that are freely available toanyone who wants to catch them, but this leads to the problem of over-fishing. At theheart of this problem lies an externality. Using appropriate diagrams andaccompanying discussion, show both how and why this over-fishing takes place. Inyour explanation, identify the source of the externality.
Five roommates are planning to spend the weekend in their dorm room watching movies, and they are debating how many movies to watch. Here is their willingness to pay: Willingness to Pay (Dollars) Yakov Charles Gilberto Lorenzo Sam First film 18 15 10 8 5 Second film 16 12 8 5 1 Third film 14 9 6 0 0 Fourth film 12 6 3 0 0 Fifth film 10 3 0 0 0 Buying a DVD costs $20, which the roommates split equally, so each pays $4 per movie. The efficient number of movies to watch (that is, the number that maximizes total surplus) is movies. Complete the following table by indicating the preferred number of movies from the standpoint of each roommate. Roommate 0 1 2 3 4 5 Yakov Charles Gilberto Lorenzo Sam The median roommate prefers movies. Suppose the roommates…