Exhaustible resources such as fossil fuels can be managed by market allocation because:
A) common property rights and the qualities of public goods prevail
B) the government should not intervene
C) oil suppliers need high incomes
D) private property and the qualities of private goods apply
E) there is an explicit constitutional ban on treating mining and oil and gas drilling any other way
Correct Answer:
Verified
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A) pollution is
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Q48: An internal cost refers to:
A) direct production
Q49: An external cost refers to:
A) direct production
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