According to economists Alchian and Demsetz, firms are formed when
A) the sum of what individuals can produce as a team is greater than the sum of what individuals can produce working alone.
B) the sum of what individuals can produce working alone is greater than the sum of what individuals can produce as a team.
C) what each individual can produce as a member of a team is less than what each individual can produce working alone.
D) the sum of what individuals can produce as a team is equal to the sum of what individuals can produce working alone.
E) none of the above
Correct Answer:
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