Question: The main difference between the Normative Coase Theorem and the Normative Hobbes Theorem is: 1) Normative Coase Theorem reduces transaction costs as a barrier to

The main difference between the Normative Coase Theorem and the Normative Hobbes Theorem is:

1) Normative Coase Theorem reduces transaction costs as a barrier to bargaining or making contracts.

2) Normative Hobbes Theorem involves any barrier to contracts except transaction costs.

3) Normative Coase Theorem favours higher taxes.

4) Normative Hobbes Theorem favours injunctions.

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