All of the Following Statements Are True in the Context

question 91

Multiple Choice

All of the following statements are true in the context of the Coase theorem,except:

• A)private bargaining will not always produce an efficient outcome.
• B)as long as the property rights are clearly defined and enforced,bargaining between the parties can ensure an efficient outcome.
• C)the initial assignment of property rights has distributional implications but will not affect the attainment of an efficient outcome,as long as there is a small number of parties involved.
• D)government intervention is necessary to achieve an efficient outcome in the presence of externalities.

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Definitions:

Terminal Values

Fundamental beliefs and end-goals that a person holds, which guide their behavior and life choices.

Instrumental Values

Values that act as means to an end, guiding behavior towards achieving desired goals or outcomes.

Higher-Order Value

Fundamental, abstract goals that serve as guiding principles in individuals' lives, often influencing decision-making and behaviors.

Values

Core beliefs or standards that guide behavior and decision-making processes.