According to Coase,the optimal allocation of resources is guided by _____
A) the decisions of a firm's managers if the good or service is produced in a perfectly competitive environment.
B) market prices when market transaction costs are greater than the firm's internal organization costs.
C) the decisions of a firm's managers when market transaction costs are greater than the firm's internal organization costs.
D) the decisions of a firm's managers when market transaction costs are less than the firm's internal organization costs.
E) entrepreneurs when the costs of negotiating contracts with resource suppliers are low.
Correct Answer:
Verified
Q3: The more complicated the process used to
Q4: In his article "The Nature of the
Q5: A "do-it-yourself" approach to production is more
Q6: The firm becomes the dominant organization type
Q7: Production through firms is often more cost-effective
Q9: By integrating vertically,_
A)firms trade with one another
Q10: An average consumer's decision to purchase a
Q11: According to Ronald Coase,firms emerge when _
A)transaction
Q12: If the minimum efficient scale in toaster
Q13: In his article "The Nature of the
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