The Coase theorem is the proposition that if property rights ___, only a small number of parties are involved and transaction costs are _, then private transactions are ___ and the outcome is not affected by who has been assigned the property rights.

The Coase theorem is the proposition that if property rights exists, only a small number of parties are involved and transaction costs are low, then private transactions are efficient and the outcome is not affected by who has been assigned the property rights.

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The Coase theorem is the proposition that if property rights​ _____, only a small number of parties are involved and transaction costs are​ _____, then private transactions are​ _____ and the outcome is not affected by who has been assigned the property rights.

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The Coase theorem is the proposition that if property rights ___, only a small number of parties are involved and transaction costs are _, then private transactions are ___ and the outcome is not affected by who has been assigned the property rights.