Coase Theorem For our purposes, assume we can define the Coase Theorem as “if property rights are well defined, and there are not significant transaction costs, an efficient allocation of resources will occur, even if externalities exist.” Page 57 in Harris begins a discussion of the Coase Theorem. A description and example applications are shown. Your assignment is to make up your own hypothetical scenario for the application of the Coase Theorem. Describe your scenario (in your own words) and create a distribution of benefits table under different rights. Your results should look something like Table 3.3 (page 59) in Harris. 3 pages.
Please read all the files that I have attached with my question . Those are the contents that you need to answer the questions and divide all the answer as per the question requirements.