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Paper Instructions:

Instructions: All illegible answers will be marked incorrect, so please write legibly.
Describe in your own words the following two problems from the paper, “The problem of Social 
Cost,” by the Nobel Prize winning author Ronald Coase. The paper was published in Journal of 
Law and Economics Vol. 3 (October 1960): 1 – 44 and is available from the CMS.
a. Farmer and his neighboring cattle-raiser.
b. A Confectioner and a doctor.