Ronald Coase's insight regarding the firm was that
a. firms tend to be more profitable when economies of scale are greater
b. uncertainty and information are the keys to perfect competition
c. perfectly competitive firms tend to displace monopolies
d. economic activity is best understood in terms of the transaction costs of exchange
e. consumers often carry out transactions directly with resource suppliers
D
Economics
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A trade surplus could be balanced by all of the following except
a. borrowing from domestic citizens. b. selling domestic assets to foreigners. c. borrowing from foreigners. d. selling foreign assets already owned by U.S. citizens to foreigners.
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What characteristics of both the product market and the labor market enhance the likelihood that a union will be effective?
Economics