Four friends who love to ski decide to pool their financial resources and equally share the cost of a one-week time-share condominium in Alta,Utah.Unfortunately,the condominium does not come with maid service.Everyone says that she values clean dishes,yet unwashed dishes pile up in the sink.To an economist,clean dishes in the cupboard represent

Question

Quizplus · Accepted Answer

The unwashed dishes in the sink represent a common resource problem, as there is no incentive to wash the dishes since everyone values clean dishes, but no one wants to do the work. This is a classic example of the tragedy of the commons, where a shared resource is not properly maintained or used due to lack of individual responsibility. The other options do not accurately represent the situation.

Four Friends Who Love to Ski Decide to Pool Their