It can be difficult to define and enforce property rights against damaging pollutants when

a. many polluters are harming one person.
b. many polluters harm the same large group of people with the same pollutant.
c. the harms are difficult to quantify.
d. All of the above are true.

D

Economics

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In the figure above, with international trade American consumers buy ________ million shirts per year

A) 48 B) 32 C) 16 D) 24

Economics

If buyers cannot distinguish between "lemons" and "cherries" in the used car market but sellers can, the price buyers are willing to pay for used cars will be:

A. high enough to guarantee that at least 50 percent of the used cars offered for sale are "cherries." B. equal to zero since no one will take the chance of purchasing a "lemon" even if the value of a car known to be a lemon is greater than zero. C. so low that sellers with "cherries" will be unwilling to sell. D. so low that sellers with "lemons" will be unwilling to sell.

Economics