Which of the Following Is an Example of the Tragedy

question 118

Multiple Choice

Which of the following is an example of the tragedy of thecommons?

• A)Tuna in the ocean are being over harvested because it is difficult to prevent anyone from fishing for tuna.(True
• Answer )Correct
• B)Personal computers have become a commonplace appliance in many homes, causing an expedited tragedy of
• Technology.
• C)There is an increasing threat to wildlife due to habitat loss in national forests.
• D)Television's popularity has become a common tragedy in our society.

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Definitions:

Duopoly

A market structure characterized by two producers/sellers in competition with each other.

Constant Costs

Costs that remain unchanged regardless of the level of output or activity within a certain range.

Corncob Pipes

Pipes made from the dried cob of a corn plant, often used for smoking tobacco.

Cournot Reaction Function

A mathematical representation in economics that shows how one firm reacts to the quantity choice of another firm in a duopoly market setting.