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group of college students throw a party for their graduation. They decide that each of them pick a type of pizza, share all the pizzas and split the total cost evenly. A Tragedy of the Commons problem is likely for each of the following reasons except each pizza is both excludable and rival in consumption. when one person eats, he may not consider how his choice affects his friends. each individual has an incentive to eat as much as possible since no matter how much an individual eats, it would not cost him extra money. eating the pizzas creates an externality.

group of college students throw a party for their graduation. They decide that each of them pick a type of pizza, share all the pizzas and split the total cost evenly. A Tragedy of the Commons problem is likely for each of the following reasons except each pizza is both excludable and rival in consumption. when one person eats, he may not consider how his choice affects his friends. each individual has an incentive to eat as much as possible since no matter how much an individual eats, it would not cost him extra money. eating the pizzas creates an externality.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A group of college students throw a party for their graduation. They decide that each of them pick a type of pizza, share all the pizzas and split the total cost evenly. A Tragedy of the Commons problem is likely for each of the following reasons except each pizza is both excludable and rival in consumption. when one person eats, he may not consider how his choice affects his friends. each individual has an incentive to eat as much as possible since no matter how much an individual eats, it would not cost him extra money. eating the pizzas creates an externality. Question 11 of 40>> A Moving to another question will save this response. Close Window 20
Transcribed Image Text:A group of college students throw a party for their graduation. They decide that each of them pick a type of pizza, share all the pizzas and split the total cost evenly. A Tragedy of the Commons problem is likely for each of the following reasons except each pizza is both excludable and rival in consumption. when one person eats, he may not consider how his choice affects his friends. each individual has an incentive to eat as much as possible since no matter how much an individual eats, it would not cost him extra money. eating the pizzas creates an externality. Question 11 of 40>> A Moving to another question will save this response. Close Window 20
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