In 1968,an Ecologist Named Garrett Hardin Published a Paper Describing

question 18

Multiple Choice

In 1968,an ecologist named Garrett Hardin published a paper describing the "tragedy of the commons," which he described as occurring when individual self- interest inevitably leads to overuse and abuse of a shared resource.Which of the following types of resources is the kind of shared resource that Hardin described in his paper?

• A)A common pool resource
• B)A finite resource
• C)An economic resource
• D)A renewable resource

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Definitions:

Natural Log

The logarithm to the base e, where e is an irrational and transcendental constant approximately equal to 2.71828.

Risk Averter

An individual or entity that prefers to avoid risk, typically choosing options with more certain outcomes over those with higher, but more uncertain, returns.

Expected Value

A calculated average of the possible outcomes of a given event, weighted by the likelihood of each outcome occurring.

Natural Log

The logarithm to the base \(e\) (where \(e\) is approximately 2.718), a constant used in mathematics and economics to model growth processes.