Non- zero transaction costs are a result of
A)gambling by risk lovers
B)asymmetric information
C)the Nash equilibrium
D)high wages paid to lawyers

Question

Quizplus · Accepted Answer

Non-zero transaction costs are a result of asymmetric information, which means that buyers and sellers do not possess the same information about the product or service being traded. As a result, they must incur additional costs in order to obtain the necessary information to make an informed decision. This can include costs such as researching the product, hiring experts or consultants, or negotiating with the other party.

Non- Zero Transaction Costs Are a Result of