This question: 1noint(s) possibleNext questionThe tragedy of the commons is the absence of incentives toA. discover the resource.B. prevent the free – rider problem.O C. prevent overuse and depletion of the common resource.O D. correctly measure the marginal cost.E. prevent under use of the common resource.Time Remaining: 00O O O C

The tragedy of the commons is the absence of incentives to O A. discover the resource. O B. prevent the free - rider problem. C. prevent overuse and depletion of the common resource. O D. correctly measure the marginal cost. O E. prevent under use of the common resource.

The tragedy of the commons is the absence of incentives to O A. discover the resource. O B. prevent the free - rider problem. C. prevent overuse and depletion of the common resource. O D. correctly measure the marginal cost. O E. prevent under use of the common resource.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 2PA

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Step 1

TRAGEDY OF COMMON REFERS TO A SITUATION IN WHICH INDIVIDUAL WITH ACCESS TO A SHARED RESOURCE ALSO CALLED A COMMON, ACT IN THEIR OWN INTEREST AND DEPLETE THE COMMON RESOURCE.

TRAGEDY OF COMMON OCCUR WHEN INDIVIDUAL NEGLECT THE WELL BEING OF SOCIETY FOR THEIR PERSONAL GAIN AND THIS LEADS TO OVER CONSUMPTION AND DEPLETION OF COMMON RESOURCES.

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