What did Coase see as the main role of the corporation?
To pay marketplace costs
To maximize profits
To create jobs
To influence policy
Answer
The corporation acts as a means to reduce transaction costs in the market by bringing together resources and coordinating economic activities within its organizational structure, thereby mitigating inefficiencies and facilitating the smooth functioning of economic processes.
Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate
More Questions
Coase received his education at which institution?
Which award did Coase receive from the University of Chicago?
Coase's approach influenced which other Nobel laureate economist?
Which industry did Coase use as an example in his study of transaction costs?
Coase's ideas would later contribute to what economic field of the 20th century?
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