Keyword: average product

Tragedy of the Commons (11/2/2011)

Unlimited entry could easily lead to over-exploitation of commons resources.

Keywords: AP, average product, commons, marginal product, MP, over-exploitation, tragedy

Tragedy of the commons (transcript) (3/27/2007)

Narrated lecture on over-exploitation of commons resources due to unlimited entry.

Keywords: average product, commons, externality, free entry, marginal product, property rights, total product