Microsoft Word - Problem Set
Rank the following six transactions from lowest to highest transaction costs. Explain your ranking by reference to search, bargaining, and enforcement (There is no uniquely correct answer here).
a) Getting married
b) Buying an artichoke
c) Acquiring an easement to run a gas line across your neighbor's property d) Selling a Burger King franchise
e) Going to college
f) Purchasing a warranty for a new car.