Incomplete Property Rights Create Transactions Costs Because

Multiple Choice

Incomplete property rights create transactions costs because

A) any party wanting to use the disputed resource does not have a fixed group with which to bargain.
B) the use of the disputed resource cannot be fully monitored by the government.
C) no one can prevent people from using the disputed resource for free.
D) others may receive a higher value from the disputed resource that those who own the property right to it.