« previous next »

Author Question: The Commons Problem arises because A) firms don't maximize profits. B) social and private ... (Read 160 times)

jlmhmf

  • Hero Member
  • *****
  • Posts: 552
on: Jul 1, 2018
The Commons Problem arises because
 
  A) firms don't maximize profits.
  B) social and private incentives are not aligned and property rights are missing.
  C) social cost equals private cost and property rights are missing.
  D) social benefit equals private benefit and property rights are missing.

Question 2

Fishermen on the East Coast are using lobster traps out of which most of the lobsters that enter can escape. Why?
 
  A) It will make over-fishing less likely.
  B) They can't come up with better traps.
  C) They are not educated enough to maximize profit.
  D) They catch more lobsters this way.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


morrie123456

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

SpaceShipOne completed the first manned private spaceflight in 2004, reaching an altitude of 100.124 SpaceShipOne completed the first manned private spaceflight in 2004, reaching an altitude of 100.124
Charles Darwin may be dead and gone but a recent write-in campaign has pitted him against Republican Charles Darwin may be dead and gone but a recent write-in campaign has pitted him against Republican
Pollution in the Industrializing Nations has become a major problem. The air in Beijing is hazardous ... Pollution in the Industrializing Nations has become a major problem. The air in Beijing is hazardous ...
Social Psychologist Social Psychologist
Social Problems: A Critical Power-Conflict Perspective Social Problems: A Critical Power-Conflict Perspective
Social and leisure organizations VS. activities by Canadians age 65 and older. Social and leisure organizations VS. activities by Canadians age 65 and older.
Video: Muscle cell structures - actin, myosin and titin filaments

For a complete list of videos, visit our video library