Multiple Choice
Which of the following is an advantage of carrying out economic transactions through firms?
A) The number of transactions carried out by a firm is fewer than that carried out in a market,thereby reducing the contracting cost.
B) Firms lack knowledge about the products they produce and distribute in a market.
C) Transactions made by or with a firm involve no opportunity cost.
D) The number of transactions carried out by a firm is more than that carried out in a market,thereby reducing the contracting cost.
Correct Answer:

Verified
Correct Answer:
Verified
Q21: If demand is represented by Q<sub>d</sub> =
Q22: Suppose Sam and Kevin can produce pens
Q23: What are externalities and why is Ronald
Q24: Which one of the following does not
Q25: MACROSOFT's top management is contemplating the development
Q27: Assume the government introduces a $0.50 per
Q28: Faith and Hope are 30-year-old identical twins.The
Q29: Assume the market for hammers is perfectly
Q30: The production and distribution of goods and
Q31: What are the goals of an economic