private property rights
What will be an ideal response?
-The right to exclusive use of the property
-Legal protection against invasion from other individuals
-The right to sell, transfer, exchange, or mortgage the property
You might also like to view...
Refer to the scenario above. The opportunity cost per dollar of value added in the production of Good X by worker 2 is ________
A) $87.50 of value added in the production of Good Y B) $100 of value added in the production of Good Y C) $0.50 of value added in the production of Good Y D) $0.70 of value added in the production of Good Y
Regulation of a firm in a monopolistically competitive market
a. usually implies a very small administrative burden. b. will lower the firm's costs. c. is commonly used to enhance market efficiency. d. is unlikely to improve market efficiency.