Which of the following conditions are necessary for the Coase theorem to apply?
A. Only a few people can be involved.
B. The basic rights of the individuals must be clearly understood.
C. There must be no impediments to bargaining.
D. all of the above
Answer: D
You might also like to view...
The nominal GDP of the U.S. in 2016 was approximately $18.6 trillion. This means that
A) the value of output in 2016 was around $18.6 trillion. B) total income in 2016 was around $18.6 trillion. C) total spending in 2016 was around $18.6 trillion. D) all of the above are true.
Borrowers who use "exotic" mortgages when purchasing a home must expect
A. Congress will act to make everything "turn out in the end." B. their income to increase. C. the value of the home to increase. D. an increase in the value of the home and their income.
Most people buy insurance because they
a. are risk lovers b. enjoy the gamble c. are risk neutral d. want to avoid gambles
If Mason's marginal benefit derived from the consumption of another candy bar is greater than the price of the candy bar,
a. Mason will not purchase any more candy bars. b. Mason will increase his total satisfaction by purchasing the candy bar. c. the opportunity cost of the candy bar is lower than the price. d. Mason will decrease his total utility if he purchases the candy bar.