Question

Wally owns a dog whose barking annoys wally's neighbor, corrine. suppose that the benefit of owning the dog is worth $700 to wally and that corrine bears a cost of $500 from the barking. assuming wally has the legal right to keep the dog, a possible private solution to this problem is that

Answer 1

Assuming Wally has the legal right to keep the dog, a possible private solution to this problem is that "the current situation is efficient."

Efficiency is the capacity to abstain from squandering materials, vitality, endeavors, cash, and time in accomplishing something or in creating a coveted outcome. In a more broad sense, it is the capacity to do things well, effectively, and without waste. In more numerical or logical terms, it is a measure of the degree to which input is all around utilized for an expected assignment or capacity. It frequently particularly involves the capacity of a particular utilization of push to deliver a particular result with a base sum or amount of waste, cost, or superfluous exertion. Efficiency alludes to altogether different data sources and yields in various fields and businesses.