Common resources are overused because:
a) the marginal private benefit will always exceed the marginal social cost
b) the marginal social benefit is not taken into consideration by producers
c) social costs are controlled by quotas
d) the social costs outweigh the private costs
Ans: a) the marginal private benefit will always exceed the marginal social cost
Economics
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An increase in the interest rates in a country:
A) reduces net exports. B) does not affect net exports. C) increases net exports. D) results in a an outflow of capital from the country.
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What is meant by "the value of a statistical life"? Why is it calculated?How is it used by policymakers?
What will be an ideal response?
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