Transaction costs are caused by
A) the need to monitor contracts.
B) the complexity of contracts.
C) imperfect knowledge.
D) all of the above
Correct Answer:
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Q1: When economists talk about business organisations they
Q2: Transaction costs are
A) the costs of making
Q4: The existence of transaction costs on an
Q5: The traditional theory of the firm assumes
Q6: If we employ someone to carry out
Q7: The principal- agent problem arises because of
Q8: A divorce of ownership from control creates
Q9: The divorce of ownership and control tends
Q10: The divorce of ownership and control causes
Q11: Which of the following statements is false?
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