Microeconomics Final Milestone-16

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Nov 24, 2024

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CONCEPT → Information Asymmetry 17 RATIONALE A market failure occurs due to the information asymmetry (important price information held by either the buyer or seller, but not both). Which of the following could have caused the shift in demand illustrated below? ● ● The market adjusts and will establish a correct price. ● A socially optimal outcome occurs. A market failure occurs. ● Equilibrium is reached. MILESTONE 25/25
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