Biology Forums - Study Force

Question 1.

A tragedy of the commons occurs when a resource is

non-rival and excludable.

rival and excludable.

rival and non-excludable.

non-rival and non-excludable.

Question 2.

Figure 5-15

Figure 5-15 shows the market for Atlantic salmon, a common resource. The current market equilibrium output of Q1 is not the economically efficient output. The economically efficient output is Q2.

Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?

the social marginal benefit of harvesting salmon

the private marginal benefit of harvesting salmon

the private marginal cost of harvesting salmon

the social marginal cost of harvesting salmon

Figure 5-15

Figure 5-15 shows the market for Atlantic salmon, a common resource. The current market equilibrium output of Q1 is not the economically efficient output. The economically efficient output is Q2.

Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S2 represent?

the private marginal benefit of harvesting salmon

the private marginal cost of harvesting salmon

the social marginal benefit of harvesting salmon

the social marginal cost of harvesting salmon

the social marginal cost of harvesting salmon