Q. Briefly explicate what means by "The market is a commons." In your brief essay, create sure you cover each of following points:

a. Elucidate what is the meaning of "the tragedy of the commons?"

b. Explain why are anarchy and private enterprise fundamentally incompatible (or not)?

c. Explain why is product differentiation particularly troubling when attempting to claim that unregulated competition is inherently efficient?

d. Explain why does the profit motive does not automatically avoid air pollution in the production of steel and other products?

e. Explain why did republicans flip-flopped on a cap-and-trade system to mitigate pollution.