Examlex
Which of these compounds is the hemiacetal that forms when ethanol reacts with propanal?
Coase Theorem
A legal and economic theory stating that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.
Transaction Costs
The expenses incurred when buying or selling a good or service, which can include search, bargaining, and enforcement costs.
Marginal Social Benefit
The additional benefit to society resulting from one more unit of a good or service being produced and consumed.
Marginal Social Cost
The total cost society bears for the production of an additional unit of a good or service, including both external and private costs.
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