Which of the following is true about the private solutions to the externality ? Group of answer choices a. The Transaction costs need to be low to come to a private solution. b. Property rights need not be well defined. c. Transaction costs must be very high to come to a private solution. d. None of the above.

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Q: 2. The graph below shows the AD-AS model in short-run equilibrium at price level Po and level of…

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