The granite boulders in Rocky Mountain National Park are a favored place among talented climbers who specialize in the art of bouldering, or climbing harder (but shorter) routes without tying into a rope
Climbers have taken to (illegally) stashing foam crash pads underneath the boulders but marmots and other rodents chew up the pads and the litter is spread by the wind. To limit overuse of this park, suppose a limited number of permits are sold each year to climbers who can sell them at any time to other climbers. This method of achieving efficient use of a common resource is most like what government policy? A) Production quota
B) Property right
C) Individual transferable quota
D) Marginal social benefit right
C
You might also like to view...
Which of the following is NOT an example of a good with an external cost?
A) electricity generation producing carbon dioxide emissions that contribute toward global warming B) logging that pollutes a nearby river C) Jess smoking near her non-smoking roommate D) Ahmed working at a bank and getting a flu shot each fall E) noise pollution from aircraft
Explain how a well-functioning financial system can increase total factor productivity and promote economic growth
What will be an ideal response?