Which of the following is a possible solution when a scarce ...

[bcretired]

Which of the following is a possible solution when a scarce resource is subject to the tragedy of the commons?
 
  A) force people to move away from the commons
  B) offer subsidies to consumers
  C) persuade people to use less of the scarce resource through an advertising campaign
  D) access to the commons can be restricted through community norms and laws

Question 2

Suppose the value of the price elasticity of supply is 4. What does this mean?
 
  A) For every 1 increase in price, quantity supplied increases by 4 units.
  B) A 1 percent increase in the price of the good causes quantity supplied to increase by 4 percent.
  C) A 1 percent increase in the price of the good causes the supply curve to shift upward by 4 percent.
  D) A 4 percent increase in the price of the good causes quantity supplied to increase by 1 percent.

[morrie123456]

Answer to Question 1

D

Answer to Question 2

B