Suppose you rent a house next to a factory. The factory legally emits a chemical into the air that smells like feet. Now you have to spend $300 more per month on air fresheners because the company pollutes the air. You could move to another house far enough from the factory, but the rent on that house is $200 more than you pay now. The efficient solution to this problem is that

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The efficient solution to this problem would depend on the individuals preferences and circumstances ... View the full answer