It is possible to have a private solution to an externality if all of the following...
It is possible to have a private solution to an externality if all of the following conditions are satisfied EXCEPT...
A. Valuations Align
B. Costless Bargaining
C. The party that is causing harm cannot have the property right
D. Parties can bargain over the allocation of resources
Homework Answers
Ans) Private solution is that which does not involve government intervention. For private solution, well defined property rights and low transaction cost is must.
Under private solution, private parties can negotiate to reach the best outcome.
Option c.
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