In order for a voluntary agreement to be reached in general, transaction costs should be
A) infinite.
B) high relative to expected marginal benefits of the agreement.
C) low relative to expected marginal benefits of the agreement.
D) determined by the Environmental Protection Agency.
C
Economics
You might also like to view...
Balance of payments accounts include
A) the net interest income account. B) the current account. C) Both answers A and B are correct. D) Neither answer A nor B is correct.
Economics
The above table gives the demand schedule for Billy Bob's BBQ ribs. If the price of a pound of ribs falls from $3 per pound to $1 per pound, what is the change in Billy Bob's total revenue?
A) $42 B) $24 C) -$2 D) -$24
Economics