Please answer the following short answer questions. Be as concise as possible.

1. DumpsterDivers, Inc. is a company that goes from house to house, buying items from homeowners that would otherwise be put in the trash. The company then resells or recycles these items. Describe the private benefits vs. the social benefits of this activity.

2. Identify each of the following goods as either rival or nonrival and excludable or nonexcludable. Based on your answers, would it be best to produce them as public goods or through a private market? a. Traffic Lights b. Energy Drinks c. Police Protection d. iPhone 12 e. Local library

3. Explain the "Tragedy of the Commons."