The Coase theorem is the proposition that if property rights exist and are enforced, private transactions are
A) inefficient.
B) efficient.
C) inequitable.
D) illegal.
E) unnecessary.
B
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Which of the following can people not get at their commercial banks?
A. certificates of deposit B. money market deposit accounts C. money market mutual funds D. time deposits
In the above figure, the efficient amount of output is ________ units
A) 25 B) 50 C) 75 D) 100
The corporate tax applies to firms’ total revenues.
Answer the following statement true (T) or false (F)
Consider the market for university economics professors. Suppose the opportunity cost of going to graduate school to get a Ph.D. in economics decreases for many individuals. Suppose it generally takes about five years to get a Ph.D. in economics. Holding all else constant, in five years the equilibrium quantity of university economics professors will
a. increase. b. decrease. c. not change. d. It is not possible to determine what will happen to the equilibrium quantity.