What is the tragedy of the commons, as illustrated by overgrazing?

• A. It is the depletion of a resource due to individuals acting in their own interest without considering the collective impact.
• B. It is the efficient use of resources due to well-defined property rights.
• C. It is the overproduction of resources due to government intervention.
• D. It is the underuse of resources due to lack of demand.

Answer: (A)