Property rights are useful in predicting behavior when we define ownership of a resource as
A) a moral claim to a particular resource.
B) legal title to the resource.
C) physical possession of the resource.
D) the ability to appropriate the benefits from use of a resource.
Question 2
Refer to the scenario above. Which of the following shifts will increase the total cost?
A) Shift from apartment Close to Far
B) Shift from apartment Far to Very Far
C) Shift from apartment Very Close to Close
D) Shift from apartment Very Far to Extremely Far
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