If the Government Assigns Private Property Rights to a Common

question 119

Multiple Choice

If the government assigns private property rights to a common resource,then the

• A) resource is under-utilized.
• B) marginal private cost becomes equal to the marginal social cost.
• C) government needs to set a quota to achieve efficiency.
• D) resource becomes subject to the free riding problem.
• E) resource cannot be utilized.

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Definitions:

Interspecific Competition

A biological interaction between organisms of different species competing for the same resources in an ecosystem, such as food or space.

Foraging

The act of searching for and exploiting food resources in the wild, often used in the context of animals but also applicable to human gathering activities.

Commensalism

A relationship between two living organisms where one benefits and the other is neither harmed nor benefits significantly.

Parasitism

A biological relationship where one organism, the parasite, lives on or in another organism, the host, causing it harm.