Common-resource goods tend to be offered at ________ market price and at ________ quantity than what society desires.

Question

Quizplus · Accepted Answer

Common-resource goods are not priced according to their scarcity since they are available to everyone. Therefore, they tend to be offered at a lower market price. However, their quantity tends to be higher since they are available to everyone, which can lead to overuse or depletion of the resource. Therefore, the correct answer is D, a lower market price and a higher quantity than what society desires.

Common-Resource Goods Tend to Be Offered at ________ Market Price