We call costs that fall directly on an economic decision maker:
A. social costs.
B. private costs.
C. external costs.
D. network costs.
B. private costs.
Economics
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Las Vegas Sands Corporation is trying to acquire 50 acres of land to build a casino resort in Pennsylvania. There are 60 houses on the land the company needs
Explain how eminent domain could be beneficial in the process of acquiring this land in terms of transactions costs and the holdout problem.
Economics
Explain the principle of the "second best."
What will be an ideal response?
Economics