Which condition(s) must exist for the Coase theorem to hold? I. ...

[tiffannnnyyyyyy]

Which condition(s) must exist for the Coase theorem to hold? I. Property rights must exist. II. Transactions costs must be measurable. III. A small number of parties must be involved.
 
  A) I and II only
  B) I and III only
  C) II and III only
  D) I, II and III

Question 2

A tit-for-tat strategy can be used in
 
  A) a single-play game or a repeated game.
  B) a single-play game but not a repeated game.
  C) a repeated game but not a single-play game.
  D) neither a repeated game nor a single-play game.

[tennis14576]

Answer to Question 1

B

Answer to Question 2

C

[tiffannnnyyyyyy]

Thanks for the timely response, appreciate it

[upturnedfurball]

Excellent