According to Williamson's Transaction Cost Theory, Hierarchies (≈ Organizations) Are

Multiple Choice

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

A) There are few actors who offer the same or similar item or service.
B) There is great knowledge of the parties about other parties and their offers.
C) There is great knowledge of the parties about other parties but not about their offers.
D) There are many actors who offer the same or similar item or service.