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Alchian (1950) advanced a then-novel evolutionary perspective on firms and their survival in light of changing conditions and uncertainty. This

Alchian (1950) advanced a then-novel evolutionary perspective on firms and their survival in light of changing conditions and uncertainty. This perspective included which point(s)?


a.     The economic counterparts of biological factors such as genetic heredity, mutations, and natural selection are imitation, innovation, and positive profits.

b.    A firm's success follows almost entirely from its motivations and intentions.

c.     The motivation to maximize firm profits is an effective guide to action under uncertainty.

d.    Chance is never a significant survival factor in well-managed companies.

e.     None of the above.

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