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Author Question: Costs to the firm arising from reaching agreements on input prices with suppliers and then ensuring ... (Read 66 times)

bucstennis@aim.com

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on: Jun 29, 2018
Costs to the firm arising from reaching agreements on input prices with suppliers and then ensuring that terms of agreements are fulfilled, are called
 
  A) negotiation costs.
  B) agency costs.
  C) transactions costs.
  D) implicit costs.

Question 2

Suppose firms in a perfectly competitive industry are making economic profits. As a result I. new firms enter the industry. II. the market price falls. III. the economic profits of the existing firms decrease.
 
  A) I, II and III
  B) I and II
  C) II and III
  D) I and III


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nikmaaacs

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


bucstennis@aim.com

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

bbburns21

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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