New species are currently being discovered and named at a faster rate than at any time in the 250-year history of zoological taxonomy. Could auctioning off-e.g., through eBay-the rights to name new species be an effective way of raising funds for wildlife conservation? No, because few people or firms would have any interest in naming animal species. Yes, because conditions of both supply and demand would favor the development of a market in animal naming rights. Yes, because names are a scarce quantity, and a market in animal naming rights would provide a much-needed reservoir of new names. O No, because wildlife conservation is of little interest to people.

New species are currently being discovered and named at a faster rate than at any time in the 250-year history of zoological taxonomy. Could auctioning off-e.g., through eBay-the rights to name new species be an effective way of raising funds for wildlife conservation? No, because few people or firms would have any interest in naming animal species. Yes, because conditions of both supply and demand would favor the development of a market in animal naming rights. Yes, because names are a scarce quantity, and a market in animal naming rights would provide a much-needed reservoir of new names. O No, because wildlife conservation is of little interest to people.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 4PA

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