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docker41 [41]
3 years ago
11

Where there is asymmetric information between buyers and sellers, Multiple Choice product shortages will occur at the equilibriu

m price. product surpluses will occur at the equilibrium price. markets can produce inefficient outcomes. markets will fail due to the over-allocation of resources.
Business
1 answer:
Talja [164]3 years ago
6 0

Answer:

markets can produce inefficient outcomes.

Explanation:

Asymmetric information is when one party to a transaction has more information than the other party. It could be the buyer or seller that has more information

For example, if a person wants to purchase health insurance, he might not disclose the full information about his health status to the insurer. This might lead to underestimation of costs.

Also, a seller might not reveal to the buyer than the item about to be purchased is faulty.

Asymmetric information leads to inefficient outcome inn the market

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Answer:

The correct answer is (B)

Explanation:

The correct answer is (B)

Because, According to Mancur Olson's theory of dictatorships in poor countries, stable dictatorships cause less economic harm than unstable dictatorship

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Which statement describes a disadvantage of a command economy?
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The two types of utilitarianism are _____ and _____ . primary; secondary causal; superfluous consideration; evoked proactive; re
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Answer:

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Explanation:

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8 0
3 years ago
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Answer:

$231,000

Explanation:

With regards to the above, the total sales would be;

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