The Figure Given Below Represents an Imperfectly Competitive Resource Market

The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1

-Common ownership of resources:

A) is a system by which the government allocates the rights to harvest renewable resources.
B) may fail to ensure that harvesting of renewable resources does not exceed the maximum sustainable yield.
C) is an environmentally effective method of internalizing an externality problem in renewable resource conservation.
D) efficiently controls the harvest of renewable resources.
E) usually helps in preventing market failures.