Which of the following is true about imperfect information or asymmetry of information? A. in a market of second-hand cars, the buyers have more information than the sellers which put the sellers to a disadvantage position B. imperfect information is reduced if the couple take time and effort to know each other before marriage C. the doctors have more information about the condition of the patient, and can induce the demand for a more expensive health care services which may be unnecessary D. A and B E. B and C
Which of the following is true about imperfect information or asymmetry of information? A. in a market of second-hand cars, the buyers have more information than the sellers which put the sellers to a disadvantage position B. imperfect information is reduced if the couple take time and effort to know each other before marriage C. the doctors have more information about the condition of the patient, and can induce the demand for a more expensive health care services which may be unnecessary D. A and B E. B and C
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter16: Information, Risk, And Insurance
Section: Chapter Questions
Problem 20CTQ: A website offers a place for people to buy and sell emeralds, but information about emeralds can be...
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Which of the following is true about imperfect information or asymmetry of information?
A. in a market of second-hand cars, the buyers have more information than the sellers which put the sellers to a disadvantage position
B. imperfect information is reduced if the couple take time and effort to know each other before marriage
C. the doctors have more information about the condition of the patient, and can induce the demand for a more expensive health care services which may be unnecessary
D. A and B
E. B and C
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