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:

License Plates

Metal or plastic plates displayed on vehicles for official identification purposes.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, responsible for focusing most of the light that enters the eye.

Visual Process

The series of steps by which visual information is taken in by the eyes and interpreted by the brain to form visual perceptions.

Light Rays

Streams of photons that exhibit both wave-like and particle-like properties, responsible for making the phenomena of sight possible.