It is in the self-interest of individuals to:
A)minimize the total contracting costs in any relationship.
B)maximize the total contracting costs in any relationship.
C)eliminate the total bargaining costs in any relationship.
D)reduce value through formal contracting costs.

Question

Quizplus · Accepted Answer

Minimizing the total contracting costs in any relationship is in the self-interest of individuals because it reduces the overall expenses and increases the potential benefits. By minimizing the costs, individuals can ensure that they are getting the most value out of the relationship and maximize their own gains. On the other hand, maximizing the total contracting costs or eliminating the bargaining costs may not be practical or feasible, as it can lead to adversarial relationships and ultimately, reduced value. Similarly, reducing value through formal contracting costs would not be beneficial for individuals.

It Is in the Self-Interest of Individuals To