Multiple Choice
Tuna in the ocean is a common resource because:
A) it is difficult to prevent people from fishing in the ocean and every time someone catches tuna there is less tuna for someone else.
B) all tuna are identical (i.e., a homogenous good) and sold in competitive markets.
C) there is an abundance of tuna and no one fisherman can affect the market equilibrium output.
D) None of the answers is correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q143: Common resources are not individually owned, which
Q144: The tragedy of the commons problem is
Q145: Public goods are:<br>A) excludable and rival.<br>B) excludable
Q146: During the Holy Roman Empire, Germany's Rhine
Q147: Nonexcludability cannot exist at the same time
Q149: Explain whether there is a free-rider problem
Q150: Economic markets have a hard time producing
Q151: Which of the following solutions for public
Q152: Private goods are both:<br>A) rival and nonexcludable.<br>B)
Q153: A free rider is a person who:<br>A)