In a one- person firm:
A) ability determines effort.
B) income depends on effort.
C) financing depends on credit.
D) effort is restricted by resources.
Correct Answer:
Verified
Q36: when monitoring costs are high and team
Q37: Efficient team production depends on:
A)good will by
Q38: At the equilibrium of the one- person
Q39: The separation of control and ownership:
A)is minor
Q40: In the absence of contracting or monitoring
Q42: Asymmetric information and uncertainty:
A)are key for the
Q43: Ownership is equivalent to:
A)being the largest customer
Q44: Adam Smith's fundamental insight was that firms
Q45: Jack has one half of a $10,000
Q46: Firms are least likely to use markets
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