Overutilization of a resource typically occurs:
A) when there is a tragedy of the commons
B) when there is no cost to using the resource
C) when the resource is publically owned
D) all of the other answers
Correct Answer:
Verified
Q10: An externality occurs when:
A) production of a
Q11: An externality can be:
A) positive
B) negative
C) both
Q12: Education is likely to be a:
A) positive
Q13: Marginal Revenue Product is:
A) additional money earned
Q14: Marginal Factor cost is:
A) additional cost of
Q16: Tragedy of the Commons occurs when:
A) private
Q17: Examples of shared resources that are candidates
Q18: Tragedy of the commons occur in:
A) market
Q19: Solutions to the tragedy of the commons
Q20: An externality occurs when:
A) the consumer is
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