Question:

1. In your own words explain what Coase theorem says. What are the requirements for Coase theorem to hold?
2. Smoking creates external effects. Explain what are the externalities associated with driving.
3. Describe one command and control and one market policy that will help us deal with the externalities caused by smoking
4. Give an example of a common resource.
5. Explain why the problem of tragedy of commons exists.
6. Give an example of a solution that can help us to deal with problem of the tragedy of commons.

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document