I would like to get help to answers for the below four questions. I need 200 words for each question.
1) Miller Benjamin and North, The Economics of Public Issues, 17th Edition, Page 34 #4:
"Consider two counties, A and B, which have identical physical endowments of a key resource. In country A, any profits that are made from extracting that resource are subject to confiscation by the government, while in county B, there is no such risk. How does the risk of expropriation affect the economic endowment of the two nations? In which nation are people richer? "
2) Frank, The Economic Naturalist, page 18
Please discuss the economics of Frank's question:
"Why is milk sold in rectangular containers, while soft drinks are sold in round one?"
3) Based on Coase's definition transaction costs, please discuss the firm's decision to build versus buy.
4) Evan and Wurster discuss the trade-off of "richness and reach" in the environment of decreasing costs of information technology and information. How does this trade-off affect business strategies? Please present an example of a transformed business.
Here is the reading material:
The Institutional Structure of Production By R. H.CoASE*
The ECONOMIC NATURALIST - In Search of explanations for Everyday Enigmas Robert H. Frank
The Economics of Public Issue - Miller, Benjamin, North
Strategy and the New Economics of Information