Answer Happy

An externality occurs because: Select one: O A. there are no property rights. O B. the courts are biased. о C. property rights are clearly defined. D. people do not understand the Coase theo E. there are bullies in the economy.
The resources invested in establishing and maintaining property rights are: Select one: o A. transactions costs. O B. extremely high C. profits. O D. very small E. externalities.