Common Resources Tend to Be Overused Because

question 175

Multiple Choice

Common resources tend to be overused because:

• A)individuals tend to ignore the cost to others of their use of the resource.
• B)the individual marginal cost is greater than the marginal social cost.
• C)common resources are nonrival and nonexcludable.
• D)the marginal cost of allowing one more unit of consumption is zero.

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Definitions:

Peace Is at Hand

A phrase famously used by Henry Kissinger in 1972 indicating that an end to the Vietnam War was imminent, though the war continued for several more years.

Ho Chi Minh City

Formerly known as Saigon, it is the largest city in Vietnam known for its significant role in the country's history and economy.

Renamed

refers to changing the name of a person, place, thing, or idea, often to better fit its identity, purpose, or context.

Saigon

Former name of Ho Chi Minh City, it was the capital of South Vietnam until the end of the Vietnam War in 1975.