The Coase Theorem states that _____. a. in the absence of transaction
The Coase Theorem states that _____.
a. in the absence of transactions costs, the allocation of resource will be independent of property right assignment
b. in the absence of transactions costs, the allocation of resources will be dependent on property right assignment
c. with transactions costs, the allocation of resources will be independent of property right assignment
d. with transactions costs, the allocation of resources will be dependent of property right assignment
ANSWER
a
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