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Tyler Owns a Dog and Receives a $300 Benefit from Owning

Question 102

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Tyler owns a dog and receives a $300 benefit from owning it. Tyler's neighbor, Liz, incurs a cost of $450 from the dog's barking. Suggest a deal between Tyler and Liz that would result in both individuals becoming better off.

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Since Liz's cost exceeds Tyler's benefit...

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