Ronald Coase argued that firms exist due to the presence of
A) transfer costs.
B) unions.
C) transactions costs.
D) easy market transactions.
C
Economics
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If the price of an ounce of gold is 200 ZARs in South Africa and $75 in Canada, what will be the South African Rand (ZAR) per Canadian dollar (C$) exchange rate?
a. C$1 = 4.25 ZAR b. C$1 = 1.75 ZAR c. C$1 = 2 ZAR d. C$1 = 2.67 ZAR e. C$1 = 4 ZAR
Economics
In the long run, an entrepreneur who owns a perfectly competitive firm will earn an income just equal to what she could earn in the next best alternative use of her time
a. True b. False
Economics