The tragedy of the commons refers to the:
A)overuse of resources that have no price.
B)overuse of resources that have no cost.
C)under production of goods that have external benefits.
D)failure of the Coase theorem when negotiation is costly.

Question

Quizplus · Accepted Answer

The tragedy of the commons is the tendency for a resource that has no price to be used until its marginal benefit is zero.

The Tragedy of the Commons Refers to The