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Economics: A Contemporary Introduction 9th Edition by William McEachern
Edition 9ISBN: 9780538453745Economics: A Contemporary Introduction 9th Edition by William McEachern
Edition 9ISBN: 9780538453745 Exercise 6
THE COASE THEOREM Ronald Coase points out that a market failure does not arise simply because people ignore the external cost of their actions. What other condition is necessary? What did Coase consider to be an efficient solution to a negative externality?
Explanation
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Coase theorem:
Coase theorem states tha...
Economics: A Contemporary Introduction 9th Edition by William McEachern
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