Multiple Choice
Which of the following best describes the characteristics of a set of property rights that are consistent with the achievement of economic efficiency?
A) specified, nonexclusive, nonrival, enforced
B) nonexclusive, rival, enforced, transferable
C) exclusive, rival, enforced, nontransferable
D) specified, exclusive, transferable, enforced
E) specified, exclusive, nonrival, enforced
Correct Answer:
Verified
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