The most plausible way of avoiding the Tragedy of the Commons is to
Increase excludability |
Increase rivalry |
Decrease excludability |
Decrease rivalry |
If a positive externality results from the consumption of higher education, the marginal benefit students receive from education:
does not include the marginal external benefit. |
equals the marginal social benefit. |
includes the marginal external benefit. |
exceeds the marginal social benefit. |
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