Clearly defined property rights can create negative externalities

The production possibilities curve represents which of the following?

a. the amount of goods attainable with variable resources. b. the maximum amount of goods attainable with variable resources. c. the maximum combinations of goods attainable with fixed resources. d. the amount of goods attainable if prices decline.

The various ways that vertical relationships can evade regulation include

a. tying the sale of a regulated good to a customer's choice of an unregulated good b. bundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. insuring tax rates are uniform across jurisdictions