Tuna in the Ocean Is a Common Resource Because

question 148

Multiple Choice

Tuna in the ocean is a common resource because:

• A) it is difficult to prevent people from fishing in the ocean and every time someone catches tuna there is less tuna for someone else.
• B) all tuna are identical (i.e., a homogenous good) and sold in competitive markets.
• C) there is an abundance of tuna and no one fisherman can affect the market equilibrium output.
• D) None of the answers is correct.