Which of the following is false?
a. Property rights provide the rules of the economic game
b. Well defined property rights give individuals the incentive to use their property efficiently.
c. Owners with property rights have an incentive to conserve their property.
d. Owners have no incentive to care what values others place on what they own.
d
Economics
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If marginal revenue is less than marginal costs
A) production should be decreased. B) production should be decreased and profits will grow. C) production should be decreased and losses will decrease. D) all of these choices are possible.
Economics
The Coase theorem states that when permits are non-tradable, the outcome will be optimal, regardless of who initially gets the permits
a. True b. False Indicate whether the statement is true or false
Economics