The Coase theorem states that social efficiency can be obtained through bargaining and
A) gains to each party involved will be identical regardless of who has the rights.
B) gains to each party depend on the initial allocation of property rights.
C) gains accumulate to society, not individuals.
D) a socially efficient equilibrium offers no net gains because MAC will equal MD.
Correct Answer:
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A)
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Q12: Regardless of who has the property rights
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Q15: Nonjoint liability means
A) that only one party
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