9. Private solutions to correct for externalities Consider the following scenario: Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. Lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. Which of the following types of private solutions to the externality of pollination has occurred in this case? O Integration of different types of businesses through merger or acquisition O Charities O Contracts O Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when an excessive amount of time orO Contracts a breakdown in bargaining O Moral codes and social sanctions property held in common transaction costs It's important to note that sometimes private solutions to externalities do not work. For excessive amount of time or money must be spent for parties to reach an agreement. This describes the problem of