When There Are Externalities, Economic Efficiency Can Be Achieved Without

Multiple Choice

When there are externalities, economic efficiency can be achieved without government intervention:

A) at no time.
B) when the externality affects many people and property rights are not well defined.
C) when the externality affects many people and property rights are well defined.
D) when the externality affects only a few parties and property rights are not well defined.
E) when the externality affects only a few parties and property rights are well defined.