... once-mighty Colorado exits Mexico at a bare trickle; what once delivered 91m tons of nutrient-rich sediment into the Pacific Ocean now delivers practically nothing; most of it is stuck in Lakes Powell and Mead, which are slowly filling with soil. Do we still have an externality problem? Explain. Why did property rights not resolve this externality?
Responses (1)
ex·ter·nal·i·ty
noun
1. Economics
a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey.
2. Philosophy
the fact of existing outside the perceiving subject.
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There is nothing in your question that suggests any particular answer. You will have to read the course materials and compose an answer from what you find there.