Which of the following is not a necessary condition for the Coase theorem?
a. Property rights are clearly defined.
b. The costs of bargaining are sufficiently low.
c. The government intervenes to internalize the externality.
d. There are only a few parties involved.
c
Economics
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In the typical AC curve, the downward-sloping part is attributable to
a. spreading fixed costs over larger outputs and increasing returns to the variable inputs. b. declining administrative costs as output increases. c. falling fixed costs. d. rising total product.
Economics
Refer to the above diagram. The straight line E drawn through the wavy lines would provide an estimate of the:
A. growth trend. B. recovery trend. C. recession fluctuation. D. natural rate of unemployment.
Economics