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Which of the following types of private solutions to the externality of pollination has occurred in this case? O Charities O Contracts Integration of different types of businesses through merger or acquisition Moral codes and social sanctions

Which of the following types of private solutions to the externality of pollination has occurred in this case? O Charities O Contracts Integration of different types of businesses through merger or acquisition Moral codes and social sanctions

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 42P: Table 12.12, shows the supply and demand conditions for a firm that will play trumpets on the...
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Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. Lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. Which of the following types of private solutions to the externality of pollination has occurred in this case? Charities Contracts Integration of different types of businesses through merger or acquisition Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes
Transcribed Image Text:Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. Lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. Which of the following types of private solutions to the externality of pollination has occurred in this case? Charities Contracts Integration of different types of businesses through merger or acquisition Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes
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