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 refer to the costs incurred in the process of acquiring a good or service, which includes bargaining, searching, and returning products. Enjoyment of owning a good is not a cost associated with acquiring a good.

Which of the Following Is NOT an Example of a Transaction