All of the following statements are correct except
A)firms coordinate economic activity when they can perform a task more efficiently than markets can.
B)Nobel Laureate Ronald Coase stated that firms cannot be more efficient than markets.
C)markets can coordinate production.
D)firms are often more efficient than markets as coordinators of economic activity because they can achieve lower transactions costs, economies of scale, economies of scope, and economies of team production.
E)outsourcing is an example of market coordination.

Question

Quizplus · Accepted Answer

The Answer of All of the following statements are correct except
A)firms coordinate economic activity when they can perform a task more efficiently than markets can.
B)Nobel Laureate Ronald Coase stated that firms cannot be more efficient than markets.
C)markets can coordinate production.
D)firms are often more efficient than markets as coordinators of economic activity because they can achieve lower transactions costs, economies of scale, economies of scope, and economies of team production.
E)outsourcing is an example of market coordination.

All of the Following Statements Are Correct Except