Why free access to property resource generate inefficient

Reference no: EM13902786

1. An emissions fee is paid to the government, whereas an injurer who is sued and held liable pays damages directly to the party harmed by an externality. What differences in the behavior of victims might you expect to arise under these two arrangements? Why does free access to a common property resource generate an inefficient outcome?

2. Public goods are both nonrival and nonexclusive. Explain each of these terms and show clearly how they differ from each other.

Reference no: EM13902786

Questions Cloud

Explain why the median voter outcome need not be efficient : Public television is funded in part by private dona- tions, even though anyone with a television set can watch for free. Can you explain this phenomenon in light of the free rider problem?

Deliver goods or services to customers as efficiently : Businesses try to create systems that deliver goods or services to customers as efficiently as possible. This often involves multiple steps and systems that hopefully work together to accomplish that goal. Explain the systems perspective, and identif..

Explain validity and reliability and distinguish : Explain validity and reliability and distinguish between the 2 concept

What will alert megan mckinney-the controller : Sandra Kristof sells furniture for McKinney Furniture Company. Kristof is having financial problems and takes $650 that she received from a customer. She rang up the sale through the cash register. What will alert Megan McKinney, the controller, that..

Why free access to property resource generate inefficient : Public goods are both nonrival and nonexclusive. Explain each of these terms and show clearly how they differ from each other.

Testing the contingency table for variables : Construct and use the 0.05 level in testing the contingency table for variables 26 and 27. Can we conclude that the gender of the respondent is independent of the education level of the respondent

Evaluate the concept of separation of powers and explain : Evaluate the concept of separation of powers and explain

Instructions on writing a paper : Comment on at least one other learner's idea. If you came across some articles that might help them in your previous article searches, share that information with them.

What is the nature of a joint-production process : Give the steps in the cost allocation process. What is the nature of a joint-production process? What is the objective of joint-cost allocation?

User Account

All Pages