Which of the Following Applies to the Tragedy of the Commons

Multiple Choice

Which of the following applies to the tragedy of the commons?
I.In the absence of government action,there is an absence of incentives to prevent the overuse of the common resource.
II.When consumers take account of the marginal social benefit and marginal social cost,overuse of the resource occurs.
III.Even with government action,it is impossible for an efficient level of output to be achieved.

A) I only
B) I and II
C) II and III
D) I, II and III
E) none of the above