Author Question: Which condition(s) must exist for the Coase theorem to hold? I. Property rights must exist. II. ... (Read 109 times)

tiffannnnyyyyyy · **on:** Jun 29, 2018

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.