According to neoclassical economics:
A) all allocations are Pareto- optimal.
B) property rights over assets do not matter.
C) all allocations are obtained via perfectly competitive markets.
D) laws, customs, culture are important economic factors.
Correct Answer:
Verified
Q59: Transaction costs exist because:
A)the information is costly.
B)the
Q60: Transaction costs of private contracts are higher:
A)when
Q61: When an economic agent affects the well
Q62: The switch in property rights from fault
Q63: Suppose that the economy is composed of
Q65: When an individual has the economic property
Q66: Property rights are incomplete because:
A)the Coase theorem
Q67: If a pure public good is produced
Q68: The price charged for a nonrivalrous good
Q69: Transactions costs are costs that violate:
A)the rules
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