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Unformatted text preview: If property rights are very hard to assign and transactions costs are particularly high, then, given the Coase Theorem, externalities: Selected Answer: Question 8 1 out of 1 points The economic theory of regulation treats politicians as: Selected Answer: Question 9 1 out of 1 points The problem with public goods is: Selected Answer: free-riding. Question 10 1 out of 1 points A person buys a used 2010 Toyota Corolla and finds that there is a problem in the drive train so that the whole set of axles must be replaced. However, the state has a lemon law that protects the buyer from these kinds of discoveries for 30 days. These lemon laws attempt to correct for the problem of: Selected Answer:...
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- Spring '14
- 30 days