Find all School-related info fast with the new School-Specific MBA Forum

It is currently 19 May 2013, 03:53
Customize  |  Hide

Hardin argued that grazing land held in common (that is,

  Question banks Downloads My Bookmarks Reviews  
Author Message
TAGS:
Intern
Intern
Joined: 14 Nov 2007
Posts: 46
Followers: 0

Kudos [?]: 0 [0], given: 0

Hardin argued that grazing land held in common (that is, [#permalink] New post 16 Nov 2007, 09:12
00:00

Question Stats:

0% (00:00) correct 100% (00:06) wrong based on 0 sessions
Hardin argued that grazing land held in common (that is, open to any user) would always be used less carefully than private grazing land. Each rancher would be tempted to overuse common land because the benefits would accrue to the individual, while the costs of reduced land quality that results from overuse would be spread among all users. But a study comparing 217 million acres of common grazing land with 433 million acres of private grazing land showed that the common land was in better condition.

Which of the following, if true and known by the ranchers, would best help explain the results of the study?

a. With private grazing land, both the costs and the benefits of overuse fall to the individual user.

b. An individual who overuses common grazing land might be able to achieve higher returns than other users can, with the result that he or she would obtain a competitive advantage.

c. The cost in reduced land quality that is attributable to any individual user is less easily measured with common land than it is with private land.

d. If one user of common land overuses it even sightly, the other users are likely to do so even more, with the consequence that the costs to each user outweigh the benefits.

e. there are more acres of grazing held privately than there are held in common.
CEO
CEO
User avatar
Joined: 29 Mar 2007
Posts: 2618
Followers: 13

Kudos [?]: 142 [0], given: 0

GMAT Tests User
Re: CR - Land Grazing 2 [#permalink] New post 16 Nov 2007, 10:48
finder_003 wrote:
Hardin argued that grazing land held in common (that is, open to any user) would always be used less carefully than private grazing land. Each rancher would be tempted to overuse common land because the benefits would accrue to the individual, while the costs of reduced land quality that results from overuse would be spread among all users. But a study comparing 217 million acres of common grazing land with 433 million acres of private grazing land showed that the common land was in better condition.

Which of the following, if true and known by the ranchers, would best help explain the results of the study?

a. With private grazing land, both the costs and the benefits of overuse fall to the individual user.

b. An individual who overuses common grazing land might be able to achieve higher returns than other users can, with the result that he or she would obtain a competitive advantage.

c. The cost in reduced land quality that is attributable to any individual user is less easily measured with common land than it is with private land.

d. If one user of common land overuses it even sightly, the other users are likely to do so even more, with the consequence that the costs to each user outweigh the benefits.

e. there are more acres of grazing held privately than there are held in common.


D. If everyone realizes the consequences of overusage, then they are unlikely to do so b/c it is non-beneficial to them.
Senior Manager
Senior Manager
User avatar
Joined: 09 Oct 2007
Posts: 471
Followers: 1

Kudos [?]: 15 [0], given: 1

GMAT Tests User
 [#permalink] New post 16 Nov 2007, 11:32
I agree. D
  [#permalink] 16 Nov 2007, 11:32
    Similar topics Author Replies Last post
Similar
Topics:
New posts Hardin argued that grazing land held in common(that is, open Taku 5 07 Mar 2005, 17:19
New posts Hardin argued that grazing land held in common (that is, ayushi 9 11 Oct 2006, 09:12
New posts Hardin argued that grazing land held in common (that is, ricokevin 5 16 Apr 2007, 23:04
New posts Hardin argued that grazing land held in common (that is, cipher 5 31 Jul 2009, 01:44
New posts Hardin argued that grazing land held in common(that is open pual 5 12 Sep 2009, 23:24
Display posts from previous: Sort by

Hardin argued that grazing land held in common (that is,

  Question banks Downloads My Bookmarks Reviews  


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.