Question
Analysis of the statutory authority of steam engines in Britain before and after a 1905 act are used in this paper to illustrate the difference between two types of net products. For 10 points each:
[10m] Name this 1960 paper which, similar to others by its author, presents the case of a litigating confectioner in Sturges v Bridgman as a poor solution to the central dilemma.
ANSWER: "The Problem of Social Cost"
[10e] Ronald Coase's "The Problem of Social Cost" details the harm of social costs arising from these effects, which occur when third parties experience costs from transactions they are not involved in.
ANSWER: negative externalities [or negative externality]
[10h] A 1990 paper by Liebowitz and Margolis argues that the externalities generated by these effects are merely pecuniary. The negative form of these effects is termed congestion.
ANSWER: network effects
<Yingzhi Nyang , Social Science - Economics>
Summary
| 2023 NASAT | 06/17/2023 | Y | 9 | 8.89 | 78% | 11% | 0% |
Data
| Kentucky A | Arkansas | 0 | 0 | 0 | 0 |
| New Jersey A | Asia B | 0 | 10 | 0 | 10 |
| Illinois Orange | Maryland Red | 0 | 10 | 0 | 10 |
| Illinois White | Liberia | 0 | 10 | 0 | 10 |
| Maryland Gold | California | 0 | 10 | 0 | 10 |
| Missouri A | Kentucky B | 0 | 10 | 0 | 10 |
| Illinois Blue | Missouri B | 10 | 10 | 0 | 20 |
| New Jersey B | Pennsylvania | 0 | 0 | 0 | 0 |
| Virginia | Ohio | 0 | 10 | 0 | 10 |