According to ________, in a market with an externality, private parties would voluntarily negotiate an efficient outcome without government intervention.
A)A. C. Pigou
B)Adam Smith
C)Ronald Coase
D)John Maynard Keynes

Question

Quizplus · Accepted Answer

Ronald Coase is known for developing the Coase Theorem, which states that in the presence of externalities, private parties would bargain and negotiate to reach an efficient outcome without the need for government intervention.

According to ________, in a Market with an Externality, Private