The term tragedy of the commons describes: a. how communal ...

[kwoodring]

The term tragedy of the commons describes:
 a. how communal ownership of property leads to overuse and speedy exhaustion of resources.
  b. the very difficult circumstances that the every-day citizens faced when the first arrived in colonial America.
  c. how collective ownership of property produces a greater incentive for people to shirk, or work less than they otherwise would.
  d. how establishing governments was very difficult in the initial settlements.

Question 2

Suppose 10 workers jointly own and farm a piece of land. They all consume the farm's output in equal shares. If one worker decides to shirk and cuts her labor effort by 50 percent,
 a. her consumption will decrease by 50 percent.
  b. her consumption will decrease by greater than 50 percent.
  c. her consumption will decrease by less than 50 percent.
  d. her consumption will not change.

[Jevvish]

Answer to Question 1

a. how communal ownership of property leads to overuse and speedy exhaustion of resources.

Answer to Question 2

c. her consumption will decrease by less than 50 percent.

[kwoodring]

TYSM

[Joy Chen]

Thanks for the timely response, appreciate it