Which of the Following Is True

Multiple Choice

Which of the following is true?
i.A common resource is a resource that is nonrival and nonexcludable.
ii.Issuing individual transferable quotas (ITQ) means that for users of common resources,the marginal cost plus the price of the ITQ equals the marginal social cost.
iii.In an unregulated market,a common resource is used to the point at which marginal private benefit equals marginal cost.

A) Only i
B) Only ii
C) Only iii
D) i and ii
E) ii and iii