Question: d. The assignment of e in part (a) represents the extreme case where you have no right to play your music, while the assignment in

d. The assignment of e in part

(a) represents the extreme case where you have no right to play your music, while the assignment in

(b) represents the polar opposite extreme where I have no right to peace and quiet. Review the logic behind the Coase Theorem that suggests the efficient outcome will be reached regardless of whether e 5 0 or e 5 1,440 so long as transaction costs are low.

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