Business, 18.10.2020 14:01 CaptnKragg

Smokers impose negative externalities on nonsmokers. Suppose the airspace in a restaurant is a resource owned by the restaurant owner.
a. How would the owner respond to the negative externality caused by smokers?
b. Suppose smokers own the airspace. How would that change matters?
c. If the government gives ownership of the air to nonsmokers, would that change matters? Explain your answer.
d. What does a ban on smoking in the restaurant do?

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Smokers impose negative externalities on nonsmokers. Suppose the airspace in a restaurant is a resou...

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