Firms are often more efficient than markets as coordinators of economic activity because
A) firms can achieve lower transaction costs.
B) markets cannot coordinate production.
C) firms don't rely on economies of scale while markets do.
D) firm coordination is always more economically efficient than market coordination.
A
Economics
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A key reason for the existence of firms is that, compared to markets, firms often achieve lower
A) explicit costs. B) transactions costs. C) accounting costs. D) scope of team production.
Economics