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5. What type of situation does the Prisoner's Dilemma represent? 6. Why are public goods usually provided for by the government? Why would private production

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5. What type of situation does the Prisoner's Dilemma represent? 6. Why are public goods usually provided for by the government? Why would private production of public goods lead to a low quantity being produced? 7. What is the 'tragedy of the commons'? Which of the following represent the characteristics of a good that would lead to the 'tragedy of the commons'? a. Rival and excludable b. Non-rival and excludable c. Rival and non-excludable d. Non-rival and non-excludable

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