The Coase Theorem argues that public land management by Federal and State government leads to the best and most efficient environmental outcomes.

Question

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The Coase Theorem suggests that under conditions of no transaction costs and well-defined property rights, private negotiations between parties will lead to the efficient allocation of resources and resolution of externalities, regardless of who holds the property rights. It does not specifically argue that public land management leads to the best environmental outcomes.

The Coase Theorem Argues That Public Land Management by Federal