In a market where the tragedy of the commons arises,the equilibrium quantity is both individually ____________ and collectively __________.
A)rational;inefficient
B)inefficient;rational
C)irrational;efficient
D)efficient;irrational

Question

Quizplus · Accepted Answer

In the tragedy of the commons, individuals act rationally according to their self-interest, leading to overuse of resources, which is collectively inefficient.

In a Market Where the Tragedy of the Commons Arises,the