Which of the following is a reason for the inadequacy in ad hoc attempts - internalizing external costs and assigning property rights to unowned goods such as wild species-to repair market failures?

Which of the following causes inadequacy in ad hoc attempts-internalizing external costs and assigning property rights to unowned goods such as wild species-to repair market failures?

a. The backcasting problem

b. The fungibility problem

c. The biomimicry problem

d. The first-generation problem

Answer:

Option D is correct.

Explanation:

A type of market breakdown where business can only correct the problem or break down after it had occurs because it is the first time this kind of problem is happening.