The scope of a firm refers to its

In the prisoners' dilemma game, self-interest leads

a. each prisoner to confess. b. to a breakdown of any agreement that the prisoners might have made before being questioned. c. to an outcome that is not particularly good for either prisoner. d. All of the above are correct.

Which of the following must be in place for the Coase theorem to work?

a. A pollution charge placed on specific amounts of pollution b. A marketable permit program c. Strongly defined private property rights d. Specific types of technology used