Indicate whether the statement is true or false, and justify your answer.The Coase theorem says that well-defined property rights and low transaction costs are needed in order for the social optimum to be guaranteed through bargaining.

Indicate whether the statement is true or false, and justify your answer.The Coase theorem says that well-defined property rights and low transaction costs are needed in order for the social optimum to be guaranteed through bargaining.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter19: Externalities And Public Goods

Section: Chapter Questions

Problem 19.10P

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The Coase theorem says that well-defined property rights and low transaction costs are needed in order for the social optimum to be guaranteed through bargaining.

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