minimum per person transaction cost
Four people:
Person A whose profit is 84X-6X^2
Person B whose profit is $30-6X
Person C whose profit is $75-10X
Person D whose profit is $100-8X
Person A has property rights, meaning they can set the value
of X from 0 to 8. Each person must have the same cost of negotiation with each
other. What is the minimum per person transaction cost that would result in no
bargaining at all?
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