In Coase's confectioner and doctor example, what was the externality?
a. The doctor building his office so close to the confectioner.
b. The vibrations generated by the confectioner's production process.
c. The large number of people entering the confectioner's factory thinking it was the doctor's office.
d. The screams of the doctor's patients disrupted factory workers from performing their duties.
b
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Using free public space means that sidewalk vendors earn long-run economic profits
a. True b. False
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Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false