Property rights are important because they Multiple Choice ensure an equal distribution of income. guarantee that any exchange will make all parties better off than prior to the exchange. allow the government to control how resources are allocated. encourage cooperation by improving the chances of mutually agreeable transactions.

allow the government to control how resources are allocated

Explanation:

Property Rights are theoretical socio economic enforced constructs, which determine ownership & usage of economic resources (eg - land).

They are important for : a clear, government regulated - resource allocation. They accomplish to eliminate destructive competition for control of economic resources. They form a base of  : well defined & well developed ownership rights, for allocation of economic resources. And they also ensure monitoring of  allocation, through government supervision.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

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