For each situation below, discuss how two separate firms cou
Question and Solution
For each situation below, discuss how two separate firms could carry out the activities. Identify those areas in which t
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For each situation below, discuss how two separate firms could carry out the activities. Identify those areas in which transaction costs are highest and you would expect to see only one firm. a. Oil pipelines, once built, cannot be moved. A pipeline ends at an electric power facility, which buys oil. b. A golf course locates beside a hotel. c. A postcard manufacturer wants a readily available supply of custom-made paper. d. A candy manufacturer needs to purchase sugar daily.
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