If Transactions Costs Are Low, Private Bargaining Will Always Result

question 119

True/False

If transactions costs are low, private bargaining will always result in an efficient solution to the problem of externalities.

---

Definitions:

Permanent Adjustment

A change in a workplace or work procedure that is intended to remain in effect indefinitely.

Merit Pay System

A compensation approach where employee pay increases are based on their performance, often assessed through performance appraisals.

Teenage Son

A male child in the age range of 13 to 19 years.

Learning Disabilities

Neurologically based processing problems that can interfere with learning basic skills and affect a person's ability to read, write, or do math.