The phenomenon known as the tragedy of the commons occurs when multiple companies attempt to produce and sell the same products.

Name: The phenomenon known as the tragedy of the commons occurs when multiple companies attempt to produce and sell the same products.
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Question

Quizplus · Accepted Answer

The tragedy of the commons refers to the overuse and depletion of a shared resource by individuals acting in their own self-interest, not specifically to companies producing the same products.

The Phenomenon Known as the Tragedy of the Commons Occurs