Multiple Choice
Firms would not exist if
A) contracts were incomplete.
B) residual income equaled normal profit.
C) income was spontaneously earned.
D) contracts were complete.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: Firms exist because of<br>A)incomplete contracts.<br>B)team production.<br>C)the incentive
Q23: A narrowly diversified firm has wide economies
Q24: Without contracts, what type of transactions would
Q25: The Prime Directive says look to<br>A)the market.<br>B)the
Q26: Firms exist because of the low cost
Q28: Firms cannot resemble<br>A)incomplete contracts.<br>B)democracies.<br>C)an organization without externalities.<br>D)a
Q29: Assume that deciding to do internally something
Q30: If a firm decides to produce a
Q31: Ronald Coase argued that firms exist due
Q32: The way one firm relates to another