What Is Nobel Laureate Oliver Williamson Referring to When He

Multiple Choice

What is Nobel laureate Oliver Williamson referring to when he says "Do the gears mesh,are the parts lubricated,is there needless slippage or other loss of energy? Do the parties to exchange operate harmoniously,or are there frequent misunderstandings and conflicts?"

A) normative pillar
B) transaction costs
C) opportunism
D) the legal pillar