Suppose that Pat has the legal right to fly an extremely noisy airplane over Chris's apartment and that he values that right at $1,000 per year. Chris would be willing to pay $1,200 per year to avoid the noise. In that case
a. Pat will be required to eliminate the overflight
b. Chris will move to a new apartment
c. Pat and Chris have a powerful incentive to agree to eliminate the overflight because both would benefit from it
d. some governmental agency will step in to require Pat to choose a different flight pattern
e. some governmental agency will require Chris to move to a new apartment
C
Economics
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