The Tragedy of the Commons will be evident when a growing number of sheep grazing on the town commons leads to the destruction of the grazing resource. To correct this problem, the town could _____.
a. allow individual shepherds to choose their own flock sizes.
b. internalize the externality by subsidizing the production of sheep's wool.
c. auction off a limited number of sheep-grazing permits.
d. wait until the market corrects the problem.

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03-12-2019
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The Tragedy of the Commons will be evident when a growing number of sheep grazing on the town commons leads to the destruction of the grazing resource. To correct this problem, the town could _____.
a. allow individual shepherds to choose their own flock sizes.
b. internalize the externality by subsidizing the production of sheep's wool.
c. auction off a limited number of sheep-grazing permits.
d. wait until the market corrects the problem.

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Tundexi Tundexi · Answer 1 · 2022-06-06T12:18:21+02:00

The town could auction off a limited number of sheep-grazing permits to solve the problem.

What is a Tragedy of the Commons?

This refers to a situation where people with free access to a public resource acts in their own interest and deplete such resource.

In order to prevent these commons tragedy, there will be need for the town officials to auction off a limited number of sheep-grazing permits to solve the problem.

Therefore, the Option C is correct.

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