The tragedy of the commons refers to how: a. markets fail to produce socially optimal levels of output.
b. individuals avoid paying for a good because they cannot be excluded from using it.
c. resources that are owned by the community at large tend to be overexploited because individuals have little incentive to use them in a sustainable fashion.
d. one party in a transaction tends to have significantly better information than another party.

the specific actions take by the fed. what the fed was attempting to do by taking these actions. the result of the actions taken by the fed

answer; ///after donning a gown, mask and eyewear;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.