Author Question: Middlemen would serve no productive function if A) information is scarce and transactions costs ... (Read 12 times)

SO00 · **on:** Jun 29, 2018

Middlemen would serve no productive function if

A) information is scarce and transactions costs are zero.
B) information is free and transactions costs are significant.
C) information is free and transactions costs are zero.
D) people only purchased what they need, rather than what they want.

Question 2

Relative prices are an effective way of informing producers of

A) their marginal benefits of production.
B) their marginal costs of production.
C) both A and B.
D) none of the above.