Author Question: The portion of a worker's total earnings that is not necessary to keep the worker in her present job ... (Read 87 times)

panfilo · **on:** Jun 30, 2018

The portion of a worker's total earnings that is not necessary to keep the worker in her present job is called
a. opportunity cost
b. consumer surplus
c. economic profit
d. economic rent
e. normal profit

Question 2

According to Coase,
a. government regulation will almost always be necessary to eliminate negative externalities
b. externality problems can be solved efficiently by the assignment of property rights if transaction costs are low
c. when bargaining costs are high, it is necessary to assign property rights
d. assignment of property rights will lead to equitable but inefficient solutions to externality problems
e. there really is no externality problem with renewable resources