Business, 18.01.2021 14:00 andrewsocold

Loggers are much likely to supply wood to the market if property rights are not enforced. Classify the source of market failure in each case listed.

a. A house party plays music at a very high volume, disturbing other residents in the neighborhood.
b. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.

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Loggers are much likely to supply wood to the market if property rights are not enforced. Classify...

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