When Producers Are Hard to Monitor and Property Rights Are

question 17

Multiple Choice

When producers are hard to monitor and property rights are too costly,________ are an effective method to achieve efficient use of a ________.

• A) individual transfer quotas; public good
• B) making a government payment equal to the marginal private benefits; public good
• C) individual transferable quotas; common resource
• D) individual transferable quotas; excludable good
• E) making a government payment equal to the marginal private costs; common resource

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Definitions:

Behaviorist

A psychological perspective focusing on observable behaviors and the external stimuli that trigger them, while minimizing the importance of mental states or inner psychological processes.

Evolutionary Developmental

An interdisciplinary field of study combining aspects of evolutionary biology with developmental biology to understand the developmental processes that led to the evolution of complex organisms.

Cognitive-Developmental Theory

A theory that explains how children's cognitive abilities evolve and develop through distinct stages over time, pioneered by Jean Piaget.

Cognitive-Developmental Stages

The theory proposed by Jean Piaget that outlines how children's ability to think and understand progresses through distinct stages as they grow older.