Suppose the domestic supply (QS) and demand (QD) for skateboards in the United States is represented by the following set of equations:QS = -60 + 3PQD = 390 - 2PIn the absence of trade with the rest of the world, the consumer surplus in the U.S. skateboard market equals ________ and the producer surplus equals

Which of the following leads to the tragedy of the commons?

A) The use of common pool resources above the socially optimal level B) The low level of satisfaction derived from the use of common pool resources C) The high rate of taxation on common pool resources D) The tendency of consumers to use common pool resources without paying for them

Explain what occurs in the capital market

What will be an ideal response?