Business, 28.12.2021 03:00 jeifetz1023

Your neighbor has a tree that blocks your view of a distant hill. Your neighbor values the tree at $100. You value the tree's removal at $150. Tree removal costs $60. In this case, property rights are clear. Your neighbor owns the airspace extending above his house for some distance. Transaction costs in this case A. would be equal to zero.
B. would prohibit a private solution to the external cost.
C. are unknown.
D. would allow for a private solution to the external cost.

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Your neighbor has a tree that blocks your view of a distant hill. Your neighbor values the tree at $...

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