The Coase theorem states that when transaction cost are low, two parties will be able to bargain and reach an efficient outcome in the presence of an externality.
The Coase Theorem also states that when conflicting property rights occur, bargaining between the parties involved will lead to an efficient outcome regardless of which party is ultimately awarded the property rights, as long as the transaction costs associated with bargaining are negligible. If trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.
<h2>The following are some good ideas that can be included in Luisa's plan:
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Luisa can save some money: Luisa can keep this in mind that her education is important than most other things and cut down her expenses to save as much as money possible every month.
Luisa can apply for financial aid when she graduates from high school: Applying for financial aid as soon as possible would increase Luisa's chances of getting help.
Luisa’s friends can lend her money: In order to help Luisa for time being, Luisa's friends can lend her money expecting Luisa to return it back whenever she is able to.
Luisa’s parents can save some money for her, if possible: Depending on how capable Luisa's parents are, they can save as much as they can for their daughter's college.
In January 1791, preesident George Washington<span>'s Secretary of the Treasury Alexander Hamilton proposed a seemingly innocuous excise tax "upon spirits distilled within the United States, and for appropriating the same." and thats the answer</span>
