According to Adam Smith, ______.
A) TCE developed out of markets
B) markets developed out of monopolies
C) monopolies developed TCE
D) none of these

Name: According to Adam Smith, ______. A) TCE developed out of markets B) markets developed out of monopolies C) monopolies developed TCE D) none of these
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Question

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Adam Smith did not discuss transaction cost economics (TCE), monopolies or the development of markets out of monopolies. His work was primarily focused on the study of markets and how they operate.