Which of the Following Applies to the Tragedy of the Commons

question 141

Multiple Choice

Which of the following applies to the tragedy of the commons and a common resource?
i.In the absence of government action,there are no incentives to prevent the overuse of the common resource.
ii.When consumers take account of the marginal social benefit and marginal cost,overuse of the common resource occurs.
iii.Even with government action,it is impossible to achieve the efficient level of use of a common resource.

• A) i only
• B) i and ii
• C) ii and iii
• D) i, ii, and iii
• E) ii only

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Definitions:

Substantial Amount

A quantity or volume considered to be of considerable size or importance.

Enabling Technologies

Advanced technologies that facilitate the development of new products or enhance the capabilities of existing products or systems.

Explicit Knowledge

Knowledge that is easily articulated, codified, accessed, and verbally communicated to others.

Tacit Knowledge

Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience and context.