The depletion of a common resource due to individually rational but collectively inefficient overconsumption is called:
A)the tragedy of the commons.
B)the free rider problem.
C)rival in consumption.
D)excludability.

Question

Quizplus · Accepted Answer

The depletion of a common resource due to individually rational but collectively inefficient overconsumption is commonly known as the tragedy of the commons. This occurs when individuals consume a common resource without considering the effect of their actions on the overall resource availability. As a result, the resource gets depleted or even destroyed, leading to negative consequences for everyone who uses it.

The Depletion of a Common Resource Due to Individually Rational