A Liability Rule

question 37

Multiple Choice

A liability rule:

• A) involves the use of taxes or fees to remedy negative externalities.
• B) involves the use of subsidies to remedy negative externalities.
• C) is a legal principle requiring a party who takes an action that harms others to compensate the affected parties for some or all of their losses.
• D) requires that victims of an externality pay a tax to the producers of the externality.

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