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The purpose of companies is to reduce transaction costs

Economics

The purpose of companies is to reduce transaction costs. Suppose that the costs of market transaction go up, everything else held constant, firms will

(a) increase their size because they are needed more than ever.

(b) decrease their size because they are not fulfilling their purpose.

(c) remain the same because companies no longer care about transaction costs.

(d) Unknown; not enough information to say.

Option 1

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