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
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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
 
poor profit incentive to capitalize on the resource
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