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Business, 06.12.2021 17:10 twalters88

The tragedy of the commons refers to how: a. markets fail to produce socially optimal levels of output.
b. individuals avoid paying for a good because they cannot be excluded from using it.
c. resources that are owned by the community at large tend to be overexploited because individuals have little incentive to use them in a sustainable fashion.
d. one party in a transaction tends to have significantly better information than another party.

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The tragedy of the commons refers to how: a. markets fail to produce socially optimal levels of o...

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