Reading from the book:The economic Naturalist 5^th edition Robert H. Franck

Chapter 5: The arms races and the tragedy of the commons

Question 52 options:

In chapter 5, the author describes this concept of "smart for one; dumb for all".Briefly describe this concept and explain how one of the "mysteries" presented highlights this concept.

Question 53 (3 points)

The author in chapter 5 briefly describes the phenomenon of the "tragedy of the commons".Briefly explain this concept and one of the mysteries that the author presents that illustrates this concept.This mystery should be different than one used in other answers!

Question 54 (3 points)

The author in chapter 5 identifies some solutions to the "smart for one; dumb for all" and "tragedy of the commons" problems.Briefly explain how one of the mysteries exemplifies a solution to one of the problems. Make sure each question answer highlights a different mystery!