Avishrek786 Avishrek786

04-04-2020
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Common resources tend to be overused because: individuals tend to ignore the cost to others of their use of the resource. common resources are nonrival and nonexcludable. the marginal cost of allowing one more unit of consumption is zero. the individual marginal cost is greater than the marginal social cost.

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steffimarish steffimarish

09-04-2020

Answer: individuals tend to ignore the cost to others of their use of the resource.

Explanation:

Common resource are the resources which are freely available in the market. When there is no government intervention these common resources are overused. As these are in the cost of the others. This is also a method of natural monopoly.

Some of the examples of the common resources can be fish in the ocean, trees, forest animals. Over usage of the common resources also result in negative externalities like the balance in eco system will be affected.

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