Question: Now, imagine the damage from the trampling is actually only $200. (d) Now what is the efficient outcome? (e) If the farmer has the property

Now, imagine the damage from the trampling is actually only $200. (d) Now what is the efficient outcome? (e) If the farmer has the property rights, what does the rancher do? (f) If the rancher has the property rights, what does the farmer do? (g) Define the Coase Theorem, and explain how your answers fit the Coase Theorem's predictions

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