Suppose the Alaskan king crab harvest is unregulated and any person with a boat can go offshore, lower a crab pot, and harvest king crab.This common resource will likely be ________ because the marginal social cost of harvesting crabs _.
A) overharvested; is equal to the market price of crab
B) overharvested; is less than the market price of crab
C) efficiently harvested; is equal to the market price of crab
D) overharvested; exceeds the market price of crab
Correct Answer:
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