Suppose Coase\'s Theorem holds in a particular context. The allocation of proper

Question

Suppose Coase's Theorem holds in a particular context. The allocation of property rights with respect to the resulting privately negotiated outcome is analogous to The allocation of permits under a cap and trade system in which the cap is set by the government such that the equilibrium permit price equals the marginal external cost of emissions. O The realized marginal abatement costs of firms under a uniform emissions standard with heterogeneous abatement costs. A uniform command and control policy. O The distribution of welfare impacts across the competitive equilibrium when marginal external costs are non- ero.

Explanation / Answer

Suppose Coase's theorem holds in a particular context. The allocation of property rights with respect to the resulting privately negotiated outcome is analogous to:

the realized marginal abatebent costs of firms under a uniform emissions standard with heterogeneous abatement costs.

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