Question: TRUE OR FALSE 1. When the wants that must be satisfied exceed the available resources, prices in market economics show the relative worth of resources

TRUE OR FALSE 1. When the wants that must be satisfied exceed the available resources, prices in market economics show the relative worth of resources available for alternative uses. 2. The determinants of transaction costs from a comparative perspective are a key component of knowledge about firms' vertical limits. 3. Competition puts pressure on constant innovation and improvement. 4. The degree of control a firm director has over how resources are allocated corresponds to the firm's boundaries. 5. Implicit contracts are those in which agreement between parties is based on the expectation of good faith in the other party's conduct and mutual trust. 6. Changes in technology or the market can be used to explain a change in the horizontal limits.

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