A transaction cost is the cost of using a market plus the price of the good or service.

Name: A transaction cost is the cost of using a market plus the price of the good or service.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A transaction cost refers to the expenses incurred in making an economic exchange (such as bargaining costs, search and information costs, legal costs, etc.), separate from the price of the good or service itself.

A Transaction Cost Is the Cost of Using a Market