Private Solutions May Not Be Possible Due to the Costs

question 459

Multiple Choice

Private solutions may not be possible due to the costs of negotiating and enforcing these solutions. Such costs are called

• A)transaction costs.
• B)corrective costs.
• C)input costs.
• D)private costs.

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Definitions:

Fetus

A fetus refers to a developing mammal or human after the embryonic stage and before birth, characterized by rapid growth and the formation of body structures.

Chorion

The outermost membrane surrounding an embryo of a reptile, bird, or mammal, contributing to the formation of the placenta in mammals.

Hairs

Filamentous biomaterials growing from the dermis of mammals, serving various functions including temperature regulation and sensation.

Placenta

An organ in mammals that develops during pregnancy, providing oxygen and nutrients to the fetus while removing waste products.