According to Coase, the optimal allocation of resources is guided by
a. the decisions of a firm's managers
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
C
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Statistical studies of the relationship between interest rates and later depreciation rates show that
A) the interest difference has been a very bad predictor in the large swings of exchange rates. B) the interest difference has been an accurate predictor in the large swings of exchange rates. C) the interest difference has correctly predicted the direction in which exchange rates would change. D) the interest difference has not yet been studied as a predictor in the large swings of exchange rates. E) the interest difference is unrelated to the large swings of exchange rates.
GDP is a measure of:
A. domestic production. B. changes in the general level of prices. C. material well-being. D. social welfare.