The Coase Theorem is the proposition that private transactions are efficient if property rights exist, if only a ________ number of parties are involved, and if transactions costs are ________

The costs of ensuring that the parties live up to the promises they made in bargaining are called

A) search costs. B) collectivization costs. C) negotiation costs. D) monitoring and enforcement costs.

For a single-price monopolist to sell one more unit of a good, it must

A) lower the price on just the last unit sold. B) lower the price on all units sold. C) raise the price on just the last unit sold. D) raise the price on all units sold.