Question: According to the Coase Theorem, resource allocation will be efficient so long as transaction costs remain low and property rights can be freely assigned and

According to the Coase Theorem, resource allocation will be efficient so long as transaction costs remain low and property rights can be freely assigned and exchanged.
A. Does the Coase Theorem imply that government has little if any role to play in the market economy? Explain.
B. According to the Coase Theorem, are efficient and equitable economic outcomes assured? Explain.

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