Nick owns a dog whose barking annoys his neighbor Jane. Suppose that the benefit of owning the dog is worth $500 to Nick, and that Jane bears a cost of $700 from the barking. Assume that the city has no ordinance against barking dogs. A possible private solution that would benefit both parties is for:
a. Jane to pay Nick $450 to get rid of the dog
b. Nick to pay Jane $650 for her inconvenience.
c. Jane to pay Nick $650 to get rid of the dog.
d. There is no private solution that would improve this situation for both parties.
c
Economics
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What has been the range for the duration in months of U.S. recessions between 1950 and 2009?
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A main argument for investing in US securities is the:
A. high rate of interest. B. low rate of interest C. low risk of owning them. D. varied time frame of payment for different types of securities.
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