If Property Rights Are Assigned to a Common Resource,then the

question 58

Multiple Choice

If property rights are assigned to a common resource,then the

• A)government needs to set an ITQ to achieve efficiency.
• B)government needs to set a production quota to achieve efficiency.
• C)more than the efficient quantity is produced.
• D)marginal social benefit increases.
• E)marginal private cost becomes equal to the marginal social cost.

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Definitions:

Radial

Relating to, or situated near the radius or forearm; in a broader sense, spreading out in all directions from a common center.

Ulnar

Pertaining to the ulna, one of the two long bones in the forearm, or related to areas supplied by the ulnar nerve.

Brachiocephalic Artery

The brachiocephalic artery is a major blood vessel arising from the aortic arch that supplies blood to the right arm and the head and neck.

Left Common Carotid

A major artery in the neck that supplies blood to the head, neck, and brain.