If a Firm Makes Its Own Inputs Rather Than Buying

question 13

Multiple Choice

If a firm makes its own inputs rather than buying them, it _______need to be concerned about the hold- up problem and_______ need to be concerned with contract compliance.

• A)does; does not
• B)does; does
• C)does not; does not
• D)does not; does

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Definitions:

Augmented Matrix

An augmented matrix is a matrix used in linear algebra, consisting of the coefficient matrix of a system of linear equations and one or more columns added to the right, representing the constants from the equations' right-hand sides.

Linear Equations

Equations in which the highest power of the variable is one, graphically represented as straight lines.

Variables

Symbols used to represent unspecified numbers or values.

Ordered Triple

A set of three numbers used to locate a point in three-dimensional space.