In the Absence of Property Rights, Factories Will Dump Waste

question 126

Multiple Choice

In the absence of property rights, factories will dump waste into a waterway up to the point where ________ equals ________.

• A) marginal social cost; marginal social benefit
• B) marginal social cost; marginal private cost
• C) marginal private cost; marginal private benefit
• D) marginal private cost; marginal social cost

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Definitions:

Small Organisational Subunits

These are divisions or departments within an organization that focus on specific tasks or missions, often enhancing flexibility and focus.

Operating Restrictions

Regulations or limitations imposed on businesses concerning their operations, which can include hours of operation, types of services offered, and environmental regulations.

Intrapreneurs

Those innovating for change inside large organisations, such as corporate multinationals.

Profitable New Products

Goods or services newly introduced to the market that generate earnings exceeding their cost of production and marketing.