If Transactions Costs Exist, Then the Following Is Definitely Not

question 60

Multiple Choice

If transactions costs exist, then the following is definitely not true:

• A)There are externalities.
• B)Information is free.
• C)Information is not perfect.
• D)Property rights are not perfect.

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Definitions:

Acquitted

A legal term meaning someone has been found not guilty of a crime in a court of law.

Insanity Defense

A legal defense by which a defendant argues that they should not be held criminally responsible for their actions due to mental illness.

Not Guilty by Reason of Insanity

A legal defence where the defendant is considered not responsible for their actions due to mental illness at the time of the crime.

Felony Cases

Legal cases that involve serious crimes, typically punishable by imprisonment for more than one year or by death.