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Which of the following is incorrect about the basic logic of transaction cost theory? Group of answer choices Decision making is based in rationality. Every
Which of the following is incorrect about the basic logic of transaction cost theory? Group of answer choices Decision making is based in rationality. Every transaction made by a firm has a mix of two types of costs: market costs and bureaucracy costs. Higher uncertainty may lead to higher market costs. High asset specificity could make the hierarchy more beneficial than the market. The assumptions of transaction cost economics are different from those of neoclassical economics
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