(Total Points 25) Suppose you serve on an environmental planning board for the government. Your task is to reduce air pollution around bus stops. Describe concisely how the assignment of property rights according to the Coase Theorem can improve the air quality for the city. You can define two parties associated to this problem, city dwellers and bus companies. Do not forget to describe how these rights are to be defined and how the rights are to be distributed to the parties. Is there a chance to achieve to an efficient solution

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.