Economics Exam Question 2

[magus341]

2. Outline Ronald Coase's explanation of what firms are and why they exist in market economies

Comments

[psyllogism]

Makes sense. I don't see anything too controversial about this one :-)

[magus341]

Sorry, I didn't get to pick the question, so I couldn't be controversial. I think Coase's theorem makes sense, he was just the first to think of all this.

[psyllogism]

I didn't realize that you weren't the one coming up with the questions. Where are you getting them? They're very interesting :-)

[magus341]

My econ class. My teacher's blog: http://cafehayek.com/

[psyllogism]

Neat, thanks!