According to Williamson's Version of Transaction Cost Theory, Markets Are

Multiple Choice

According to Williamson's version of transaction cost theory, markets are more effective than hierarchies (≈ organizations) if:

A) There are few actors who offer the same or similar products or services.
B) There is little knowledge of the parties about other parties and their offers.
C) There are few actors who also offer different products and services.
D) There are many actors who offer the same or similar products or services.