Question 3 When individuals do not act collectively, what does this cause? Overuse of resources Perfect use of resources Confusion Under use of resources 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? 3 4 5 2 1 pts

## Step 1<br />The first part of the question is about the consequences of individuals not acting collectively. This is a concept in economics known as the "tragedy of the commons". The tragedy of the commons is a situation in a shared-resource system where individual users, acting in their own self-interest, behave contrary to the common good of all users by depleting or spoiling the shared resource through their collective action.<br /><br />## Step 2<br />The second part of the question is about the number of bison at which individuals would be indifferent between the bison or the bond. This is a concept in economics known as the "indifference point". The indifference point is the point at which a consumer is indifferent between two goods. In this case, the consumer is indifferent between the bison and the bond.