An Individual Will Continue to Use a Common Resource Until

question 191

Multiple Choice

An individual will continue to use a common resource until his or her:

• A) marginal benefit is zero.
• B) marginal cost is zero.
• C) marginal benefit exceeds marginal cost.
• D) marginal benefit equals the marginal social cost.

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Definitions:

Concession Bargaining

The process of getting each side in a conflict to willingly make concessions in exchange for concessions made by the opposing side.

Low Conformers

Individuals who tend not to follow the norms or standards set by their social group or society.

Tolerate

To allow the existence, presence, or practice of something that one does not necessarily like or agree with, without interference.

Self-Expression

The act of conveying one’s thoughts, feelings, or ideas through various forms such as speech, writing, or art.