Assigning Property Rights Helps Correct the Problems Associated with Common

question 23

Multiple Choice

Assigning property rights helps correct the problems associated with common resources:

• A)because it allows property owners to exclude users and to manage the resource more efficiently.
• B)because it allows the government to determine the amount that would lead to the socially optimal outcome.
• C)because it makes the good nonrival in consumption.
• D)and therefore allows the market to better assess the marginal social benefits.

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Definitions:

Order

The arrangement or organization of people or things according to a particular sequence, pattern, or system, often to create structure and efficiency.

Seek Change

The act of pursuing or advocating for modifications, transformations, or updates in practices, policies, or personal behaviors.

Referent Power

The ability to influence others based on their admiration, respect, or desire to identify with the person possessing this power.

Positional Power

The authority and power vested in an individual’s role or position within an organization's hierarchy.