One of the Reasons That a Firm Can Be ________

question 360

Multiple Choice

One of the reasons that a firm can be ________ efficient than a market is that the firm ________.

• A) more; does not have any economies of scale
• B) more; lowers transactions costs
• C) less; has economies of scope
• D) less; produces lower profits

---

Definitions:

Tolman

Edward C. Tolman was a cognitive psychologist known for his contributions to the understanding of learning and motivation through cognitive maps and latent learning.

Watson

Refers to John B. Watson, an American psychologist who established the psychological school of behaviorism.

Observational Learning

A learning process that occurs through watching others and then imitating or modeling the observed behavior.

Bandura

A psychologist known for his work in social learning theory, emphasizing the role of observational learning, imitation, and modeling in behavior.