Multiple Choice
Beginning from a situation where there were no clear property rights to clean air and water:
A) subsidies could not improve efficiency in cases of external benefits.
B) subsidies could not improve efficiency in cases of external costs.
C) taxes could not improve efficiency in cases of external costs.
D) neither external benefits nor external costs could improve efficiency in either the case of external benefits or the case of external costs.
Correct Answer:
Verified
Correct Answer:
Verified
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