Uot eco 320 final exam - Study guides, Class notes & Summaries

UOT ECO 320 Final Exam University of Toronto 2024 actual exam practice solution Property Law Imagine a train running through a wheat field and dispersing sparks which tend to set fire to the wheat. Suppose that the value of the lost wheat is $50. Moreover, suppose that the Railroad Company could prevent the loss by installing a spark arrestor at a cost of $100. Will the outcome be the same regardless of which party is endowed with the relevant property rights? What is the socially optimal outc...

UOT ECO 320 Final Exam University of Toronto 2024 actual exam practice solution.

UOT ECO 320 Economic Analysis of Law Final Exam Review (University of Toronto) Economic Analysis of Law Test 1 Review Notes: CU Chapter 1: Introduction to Law and Economics Efficiency over Distribution in analyzing private law: • A possible way to pursue redistribution is through private law (property, contract, torts). Courts should make private laws to redistribute income to deserving groups of people (Consumers in favor over investors) • 4 Reasons this is inefficient: 1. Redistribu...

UOT ECO 320 Economic Analysis of Law Final Exam Review (University of Toronto)