What is the Coase theorem
What will be an ideal response?
The Coase theorem is a theorem which asserts that under certain conditions, the property rights to an activity will be acquired by the party that values it most.
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From 2015 to 2016, the overall price level rose from 200 to 220. Over the same period, tuition rates at the local community college rose from $100 to $115 per credit hour. What can be concluded from the rise in tuition relative to overall inflation?
a. Tuition rates increased at the same rate as inflation. b. Tuition rates increased at a slower rate than inflation. c. Tuition rates increased at a faster rate than inflation. d. Tuition rates and inflation cannot be compared with the numbers given.
How can the O-ring theory help explain the existence of a low-level equilibrium that an economy may find itself in?
What will be an ideal response?