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34. The tragedy of the commons arises because (a) People have an incentive to over-consume common resources because they cannot prevent others from consuming the good. (b) Free-riders cannot be forced to pay for the public good. (c) The government bureaucracy leads to inefficiency. (d) People have an incentive to over-consume public goods because they cannot prevent others from consuming the good.

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Jean Keeling
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19 Apr 2018
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Related questions

Which of the following are characteristics of public goods?

Choose one or more:

A. Public goods generally have a small value to society.

B. The quality of public goods does not diminish when multiple people consume them.

C. There is usually no way to exclude people from consuming a public good, even if they refuse to pay for it.

D. Individuals have an incentive not to pay for the public good, even if they receive benefits from the good.

Private producers have no incentive to provide public goods because:

a. the government subsidy granted is usually insufficient to enable private producers to make a profit.

b. production of huge quantities of public goods entails huge fixed costs.

c. they cannot avoid the tragedy of the commons.

d. once produced, it will not be possible to exclude those who do not pay for the good.

1. Because public goods are:

a. Excludable, people have an incentive to be free riders.

b. Excludable, people do not have an incentive to be free riders.

c. Not excludable, people do not have an incentive to be free riders.

d. Not excludable, people have an incentive to be free riders.

 

2. The provision of a public good generates a/an

a. Negative externality, as does the use of a common resource.

b. Positive externality and the use of a common resource generates a negative externality.

c. Negative externality and the use of a common resource generates a positive externality.

d. Positive externality, as does the use of a common resource.

 

3. When goods are available free of charge, the market forces that normally allocate resources in our economy are absent.

a. True

b. False

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