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Consider a common resource good like a free camping ground next to a lake. a. What is the inefficient outcome generated in this example if

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Consider a common resource good like a free camping ground next to a lake. a. What is the inefficient outcome generated in this example if the quantity of people using the camping ground was determined by a free market relative to the social optimum? What causes this inefficient outcome? b. Propose one way in which to solve the inefficient outcome described above

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