When private costs differ from social costs, leading to a Tragedy of the Commons, which of the following must be present? Question 12 options: a negative externality excludable resources a positive externality
When private costs differ from social costs, leading to a Tragedy of the Commons, which of the following must be present? Question 12 options: a negative externality excludable resources a positive externality
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter30: Market Failure: Externalities, Public Goods, And Asymmetric Information
Section: Chapter Questions
Problem 10QP
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Question
When private costs differ from social costs , leading to a Tragedy of the Commons, which of the following must be present?
Question 12 options:
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a negative externality
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excludable resources
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a positive externality
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poor profit incentive to capitalize on the resource
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