The first step toward reducing negative externalities or maintaining them within acceptable bounds, according to the argument of the textbook, is
A) constructing an exhaustive list of all negative externalities.
B) creating a central planning authority for negative externalities.
C) cultivating such civic virtues as courtesy and tolerance.
D) halting population growth.
E) prohibiting activities whose costs are greater than their benefits.
C
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To accomplish its purpose a linear profit-sharing contract must
a. induce the employee to moonlight b. communicate a code of conduct that will be monitored and enforced c. meet either the participation or the incentive compatibility constraint d. establish a separating equilibrium e. not realign incentives
If four hair products companies agree to decrease the output of their styling products and raise the price of their styling products to $18, this is an example of ________.
A) bid rigging B) resale price maintenance C) market division D) price fixing