Externality & Internality Mcqs


Q.  Which of the following is not considered a transaction cost incurred by parties in the process of contracting to eliminate a pollution externality ?

a. costs incurred due to lawyers’ fees
b. costs incurred to reduce the pollution
c. costs incurred to enforce the agreement
d. costs incurred due to a large number of parties affected by the externality
e. All of these answers are considered transaction costs


ANSWER: See Answer
 
No explanation is available for this question!
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