1. Risk-averse managers often select a secure strategy that provides the
A. lowest payoff among the best payoffs.
B. highest payoff among the best payoffs.
C. lowest payoff among the worst payoffs.
D. highest payoff among the worst payoffs.
2. All of the following are examples of transaction costs, except:
a. Policing and enforcement costs
b. Search and information costs
c. Financing costs
d. Bargaining costs