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Unformatted text preview: eorge because George has an incentive to bribe
people so he can go naked.
C) A tax on the number of tattoos that George displays.
D) None of the above.
definition of Coasian solution ** key- property rights are well defined**
88. Which of the following is an example of scarcity
A) If a city uses an acre of land to build a park there will be less land available for
B) If I buy a new house I won't have enough money to go on vacation.
C) You choose to stay home and study instead of going to the movies.
D) All of these things.
89. Both Fred and George can buy as many Cuban cigars as they want at $5 a cigar. George
buys 8/day, Fred, 3/day. George's consumer's surplus from cigar consumption
A) equals Fred's because they both pay $5/cigar.
B) is larger than Fred's consumer's surplus from cigar consumption.
C) is smaller than Fred's consumer's surplus from cigar consumption.
D) might be smaller than Fred's consumer's surplus from cigar consumption.
90. Unregulated competitive markets evolved to increase efficien...
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This document was uploaded on 02/18/2014 for the course ECON 2010 at Colorado.
- Fall '07