All of the Following Statements Are True in the Context

Multiple Choice

All of the following statements are true in the context of the Coase theorem,except:

A) private bargaining will not always produce an efficient outcome.
B) as long as the property rights are clearly defined and enforced,bargaining between the parties can ensure an efficient outcome.
C) the initial assignment of property rights has distributional implications but will not affect the attainment of an efficient outcome,as long as there is a small number of parties involved.
D) government intervention is necessary to achieve an efficient outcome in the presence of externalities.