If the costs of negotiating and enforcing contracts are _____ relative to the benefits, buyers and sellers have incentives to make economically efficient arrangements that _____ value
a. high; increase
b. low; increase
c. high, decrease
d. low; decrease
B
Economics
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In the short run, a firm's marginal cost tends to rise as more is produced because of
a. diminishing marginal returns. b. the implicit costs of production. c. diseconomies of scale. d. rising input costs.
Economics
Since the passage of the International Banking Act of 1978, the competitive advantage enjoyed by foreign banks in the U.S. has been
A) reduced. B) mildly expanded. C) completely eliminated. D) greatly expanded.
Economics
The models of perfect competition and monopoly are the most realistic.
Answer the following statement true (T) or false (F)
Economics
Changes in nominal GDP always reflect changes in real output.
Answer the following statement true (T) or false (F)
Economics