Examlex
When we need to be particularly sure about the quality of a product,we should ______.
Coase Theorem
The proposition that even in the presence of externalities an economy can always reach an efficient solution as long as transaction costs are sufficiently low.
Transaction Costs
Expenses incurred when buying or selling goods and services, beyond the price of the goods themselves.
Sulfur Emissions
Gaseous emissions that include sulfur compounds, primarily sulfur dioxide, resulting from combustion processes and industrial activities.
Coase Theorem
A principle that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own, leading to an efficient outcome.
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