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Author Question: Private solutions to the problem of externalities are most likely when A) transactions costs are ... (Read 112 times)

storky111

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on: Jun 29, 2018
Private solutions to the problem of externalities are most likely when
 
  A) transactions costs are low and the number of bargaining parties is small.
  B) transactions costs are low and the monetary damages to third parties are high.
  C) government actively encourages these solutions.
  D) transactions costs are low and the number of bargaining parties is large.

Question 2

What is meant by the term opportunity cost?
 
  What will be an ideal response?
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chjcharjto14

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Opportunity cost is the highest-valued alternative that must be given up to engage in an activity.


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