The Coase theorem says that which of the following is necessary ...

[rosent76]

The Coase theorem says that which of the following is necessary to lead to an efficient use of resources?
 
  A) presence of transaction costs
  B) existence of property rights
  C) government intervention
  D) All of the above answers are correct.

Question 2

The above figure shows the demand and cost curves for a firm in monopolistic competition. The firm makes the maximum profit when the marginal cost of last item produced equals
 
  A) 5.
  B) 10.
  C) 15.
  D) 20.

[kristenb95]

Answer to Question 1

B

Answer to Question 2

A