Explain the tragedy of commons.
What will be an ideal response?
Question 2
If Canada has a comparative advantage relative to Mexico in the production of timber, then
A) the opportunity cost of production for timber is lower in Canada than in Mexico.
B) the explicit cost of production for timber is lower in Canada than in Mexico.
C) the implicit costs of production for timber are higher in Canada than in Mexico.
D) the average cost of production for timber is lower in Canada than in Mexico.