Tuna in the ocean is a common resource because:
A) it is difficult to prevent people from fishing in the ocean and every time someone catches tuna there is less tuna for someone else.
B) all tuna are identical (i.e., a homogenous good) and sold in competitive markets.
C) there is an abundance of tuna and no one fisherman can affect the market equilibrium output.
D) None of the answers is correct.

Question

Quizplus · Accepted Answer

Tuna in the ocean is a common resource because it is difficult to prevent people from fishing in the ocean and every time someone catches tuna there is less tuna for someone else. This creates a tragedy of the commons where individuals have an incentive to overfish and eventually deplete the resource.

Tuna in the Ocean Is a Common Resource Because