Property rights will help ensure efficient use of a common resource like fisheries, since:
a. property rights can be used to make a good excludable.
b. property rights can be used to make a good nonrival.
c. property rights will eliminate any negative externality arising from the use of a resource.
d. the marginal social cost will be reduced.
Ans: a. property rights can be used to make a good excludable.
You might also like to view...
There is no reason to think poets can't someday become as rich as professional basketball players in the market process. It is most likely to happen if
A) the supply of poets increases substantially. B) the supply of poets decreases substantially. C) the cost of writing good poetry decreases substantially. D) poets are able to consistently sell out twenty-thousand-or-larger seat stadiums at thirty dollars (or more) per ticket.
An increase in an effective federal minimum wage would tend to cause ________
A) a decrease in wage rates and an increase in employment B) an increase in wage rates and employment C) a decrease in wage rates and employment D) an increase in wage rates and a decrease in employment
After the housing bubble burst, consumer confidence plummeted and housing sales dropped to all-time lows. This caused the demand curve for normal goods to shift
a. inwards b. outwards c. stay constant d. none of the above
What are specific assets?