Consider the stock of ocean tuna which is massively overfished.It is rational for an individual to exploit the resource rather than to conserve the stock because
A)the marginal private benefit of harvesting tuna is higher than the marginal social benefit of harvesting it.
B)the marginal private benefit of harvesting tuna is lower than the marginal social benefit of harvesting it.
C)the marginal social cost of harvesting the fish is lower than the marginal private cost.
D)the marginal private cost of harvesting the fish is lower than the marginal social cost.

Question

Quizplus · Accepted Answer

The individual faces lower private costs compared to the higher social costs, leading to overexploitation as they do not bear the full cost of depletion.

Consider the Stock of Ocean Tuna Which Is Massively Overfished