Which of the Following Is a Reason Why Firms May

question 118

Multiple Choice

Which of the following is a reason why firms may be more efficient than markets as coordinators of economic activity?

• A) economies of scale and scope
• B) lower transactions costs
• C) economies of team production
• D) all of the above

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Definitions:

Variables

Characteristics or properties of an object or event that can take on different values or categories.

Information

Data that has been processed, organized, or structured in a way that provides value or meaning to the recipient.

Units of Measurement

Standardized quantities used to quantify and describe physical properties of objects or events, such as length, mass, or time.

Quantitative

Relates to, measuring, or measured by the quantity of something rather than its quality, usually referring to data or information that can be quantified.