Suppose Winston's loud music externalizes a cost onto his neighbor, Chloe. Suppose Winston and Chloe decide to solve this problem using the Coase theorem. If they are successful, what is a possible result of the execution of this theorem?
a) Chloe pays Winston weekly to refrain from playing music loudly.
b) Winston pays Chloe once (as a fine) and refrains from playing music loudly.
c) The government taxes Winston for his loud music.
d) Chloe and Winston solve their differences in a market for tradable allowances of loud music.