What other condition is necessary what did coase consider, Microeconomics

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What other condition is necessary what did coase consider

Problem

(The Coase Theorem) Ronald Coase points out that a market failure does not arise simply because people ignore the external cost of their actions. What other condition is necessary? What did Coase consider to be the efficient solution to a negative externality?

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Microeconomics: What other condition is necessary what did coase consider

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