1. Business
  2. Economics
  3. can you please state true false or uncertain and explain...

Question: can you please state true false or uncertain and explain...

Question details

Can you please state true false or uncertain and explain the reasoning in 4 or more sentences

1)When the park in front of the Kingston courthouse is uncongested, charging an entry fee would be inefficient, but when it is congested, then charging an appropriate entry fee is an efficient policy.

2)Free entry is necessary for efficient production in a fishery (ie. the use of a particular stock of fish).

3)The fact that worker effort is unobservable in some cases may explain why some workers are paid on commission (they receive a percentage of the sales they make) even though the efficient (observable effort) employment contract might involve high worker effort and a more stable income (like a salary).

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution