When Buyers,sellers and Intermediaries Undertake Costly Efforts to Locate Trading

When buyers,sellers and intermediaries undertake costly efforts to locate trading partners,reach agreements regarding transaction details and monitor partners' compliance with agreements,and when they suffer losses to partners who fail to fulfill agreements they are paying ____________.We use the term ______________ to encompass all the transport,storage,financing and transaction costs associated with the transfer of goods from their producers to their ultimate users through markets.

A) Transaction costs; transportation prices
B) Transaction costs; transfer costs
C) Transfer costs; transaction costs
D) Intermediary cost; transportation costs