A. there are no transaction costs.
B. each affected party has equal power in the negotiations.
C. the party affected by the externality has the initial property right to be left alone.
D. There are a large number of affected parties.
E. the government requires them to negotiate with each other
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[junkie-toggle title="Economics Mcqs" state="closed"] - Externality & Internality
- Externality & Internality
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