For a common resource, the marginal private cost of the resource is equal to the marginal social cost

The holdout problem arises when unanimous approval among members of a group is required_____

a. for a Pareto efficient move to occur b. for a Pareto superior move to occur c. for government to decide to undertake the project d. for government to be able to levy the tax to fund the project

Farmers as a group generally prefer bad weather to good weather because bad weather shifts the demand curve for their product rightward and raises the price of their product

Indicate whether the statement is true or false