Individuals who specialize in activities that lower transaction costs are

Consider the following situation. Tuition at State University is $10,000 per year. Each of the students listed below paid their own tuition bills. Who among them incurred the greatest sunk cost?

A) The student who received a two-year associate's degree B) The student who took five years to complete the bachelor's degree C) The student who took ten years to complete the bachelor's, master's, and Ph.D. degrees D) The student who dropped out during their first semester E) The student who dropped out after their third year

One reason the colonials complained about the Navigation Acts was

(a) the "shortage" of money; they believed the trade deficits of the colonies were bleeding them of coins. (b) the "surplus" of money that was causing inflation; they believed the trade deficits were flooding the colonies with coins. (c) the Acts' not allowing foreign coins, which created a "shortage" of foreign coins relative to British coins. (d) the Acts' requirement that only paper money would circulate in the colonies, without the backing of gold.