Question

The Tragedy of the Commons can be corrected by a conducting

a cost-benefit analysis.
b assigning property rights to individuals.
c providing government subsidies for the resource.
d making certain everyone in the economy has access to the resource.

Answer 1

B) assigning property rights to individuals.

Step-by-step explanation:

The tragedy of the commons is the result of excessive individual consumption of a non-excludable good.

There are two ways to reduce or eliminate the negative effects of the tragedy of the commons:

1. limit access to the resources, i.e. make them excludable.
2. convert the common resources into private goods, i.e. assign property rights to individuals.