Question 2 If each individual acts in their own best interest and does not make their decision publicly known, at what number of bison will the individuals be indifferent between the bison or the bond? 5 2 S 4 Question 3 When individuals do not act collectively, what does this cause? Confusion Overuse of resources Perfect use of resources Under use of resources 1 pts 1 pts

Question

Question 2 If each individual acts in their own best interest and does not make their decision publicly known, at what number of bison will the individuals be indifferent between the bison or the bond? 5 2 S 4 Question 3 When individuals do not act collectively, what does this cause? Confusion Overuse of resources Perfect use of resources Under use of resources 1 pts 1 pts

Answer 1

2. 53. Overuse of resources

Answer 2

## Step1For question 2, we are asked to identify the number of bison at which individuals would be indifferent between the bison or the bond. This is a concept from economics, specifically the theory of public goods. The question is asking for the point at which individuals would be indifferent between the bison or the bond, which is a concept related to the free-rider problem. The free-rider problem occurs when individuals can benefit from a good without paying for it, leading to under-provision of the good. The correct answer is 5, as it is the only option that makes sense in this context.## Step2For question 3, we are asked to identify what happens when individuals do not act collectively. This is a question about the consequences of individualism in decision-making. The correct answer is "Overuse of resources". This is because when individuals act in their own best interest without considering the collective good, it often leads to the overuse of resources. This is because each individual may exploit the resource to their own benefit, leading to its depletion.

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