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The tragedy of the commons is an economic problem where individuals have an incentive to consume a resource but at the expense of every other
The "tragedy of the commons" is an economic problem where individuals have an incentive to consume a resource but at the expense of every other individual ( with no way to exclude anyone from consuming). Provide an example of the "tragedy of the commons" and analyze it from an economic perspective. What would be a possible solution to this problem and how it affects the private and social costs? Does the analysis change if people act in the common interests in small groups than in large ones?
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