Since individuals ignore the effect of their use on the amount of a resource remaining for others,common resources are subject to overuse when left to the private market.

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This statement is true. The tragedy of the commons is an economic concept that explains how individuals may overuse shared resources when they act in their own self-interest, leading to depletion of the resource for everyone. This is because they do not take into account the negative impact of their actions on others, leading to a market failure.

Since Individuals Ignore the Effect of Their Use on the Amount