(Answered) Suppose winstons loud music externalizes a cost onto his

Economics

Suppose Winston's loud music externalizes a cost onto his neighbor, Chloe. Suppose Winston and Chloe decide to solve this problem using the Coase theorem. If they are successful, what is a possible result of the execution of this theorem?

a) Chloe pays Winston weekly to refrain from playing music loudly.

b) Winston pays Chloe once (as a fine) and refrains from playing music loudly.

c) The government taxes Winston for his loud music.

d) Chloe and Winston solve their differences in a market for tradable allowances of loud music.

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Business Economics, Economics

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