Which of the following is NOT an example of a transaction cost?
A) The enjoyment of owning the good.
B) The opportunity cost of time spent looking for stores that sold the good desired.
C) The cost of returning a defective product.
D) Time spent bargaining over the price of a good.

Question

Quizplus · Accepted Answer

Transaction costs are costs incurred in making an exchange or transaction, such as the cost of searching for goods, negotiating prices, and completing transactions. The enjoyment of owning a good is not a transaction cost.

Which of the Following Is NOT an Example of a Transaction