Discuss what would be efficient law


Problem

In the example of the diamond in the cave, what would be efficient law if any one explorer had only a very small probability of finding the diamond? How would your answer change if the costs of exploration were very low?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Discuss what would be efficient law
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