Which of the Following Applies to the Tragedy of the Commons

question 48

Multiple Choice

Which of the following applies to the tragedy of the commons? I.In the absence of government action,there is an absence of incentives to prevent the overuse of the common resource.
II.When consumers take account of the marginal social benefit and marginal social cost,overuse of the resource occurs.
III.Even with government action,it is impossible for an efficient level of output to be achieved.

• A)I only
• B)I and II
• C)II and III
• D)I,II,and III
• E)None of the above

Understand the concept and use of modifiers in sentences.

Recognize the importance of clarity and conciseness in communication.

Comprehend subject-verb agreement and its significance in constructing proper sentences.

Identify and use various verb tenses accurately.

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Definitions:

Manufacturers

Entities engaged in the production of goods from raw materials through the use of machines and labor.

Injuries Or Damages

Physical harm to a person or deterioration or loss to property, respectively, which may be subject to compensation through legal claims.

Good Samaritan Statutes

Laws designed to offer legal protection to people who give reasonable assistance to those who are, or whom they believe to be, injured, ill, in peril, or otherwise incapacitated.

Dram Shop Statutes

Laws that hold alcohol-serving establishments liable for serving alcohol to visibly intoxicated persons or minors who subsequently cause harm.