What was the title of Coase's 1937 seminal work?
The Wealth of Nations
The Nature of the Firm
The Firm and the Market
Principles of Economics
Answer
**The Nature of the Firm** is a seminal work by Ronald Coase, first published in 1937, that explores the economic nature of firms and the concept of transaction costs. Coase argues that firms exist because they can economize on transaction costs compared to market transactions.
Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate
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