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According to the Coase theorem, in the presence of externalities private parties can bargain to reach an efficient outcome. government assistance is necessary to
According to the Coase theorem, in the presence of externalities private parties can bargain to reach an efficient outcome. government assistance is necessary to reach an efficient outcome. the assignment of legal rights can prevent externalities. the initial distribution of property rights will determine the efficient outcome.
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Managerial Economics
Authors: Mark Hirschey
12th edition
9780324584844, 324588860, 324584849, 978-0324588866
