A Key Reason for the Existence of Firms Is That

question 100

Multiple Choice

A key reason for the existence of firms is that, compared to markets, firms often achieve lower

• A) explicit costs.
• B) transactions costs.
• C) accounting costs.
• D) scope of team production.

---

Definitions:

Quantitative Variables

These are variables that represent numerical data which can be quantified or counted, allowing for mathematical operations to be performed on them.

Stemplots

A graphical method of displaying quantitative data, typically used to show the distribution of smaller datasets.

Histograms

Histograms are graphical representations of the distribution of numerical data, where the data is divided into bins or intervals, and the frequency of data points in each bin is depicted by the height of the bar.

Leaf

Typically refers to the green, flat structure attached to a stem or branch of a plant, involved in photosynthesis.