Relative to a market with perfect information, in a market with imperfect information:
A. some goods will be sold in small quantities or not at all.
B. more than the equilibrium quantity of goods will be sold.
C. the equilibrium quantity will be sold, but at a price higher than the equilibrium price.
D. the equilibrium quantity will be sold for the equilibrium price.
Answer: A
You might also like to view...
An increase in the quantity of loanable funds demanded occurs when
A) wealth decreases. B) the expected profit rises. C) the real interest rate rises. D) the supply of loanable funds decreases. E) the real interest rate falls.
When the balance of trade is in balance, we know with certainty that
A) the value of all debit transactions equals the value of all credit transactions. B) the value of exports of goods equals the value of imports of goods. C) the value of capital exports equals the value of capital imports. D) the value of exports of goods and services equals the value of imports of goods and services.
The graph shown demonstrates a tax on buyers. Before the tax was imposed, the buyers purchased ____ units and paid _____ for each one.
A. 6; $22
B. 6; $34
C. 9; $18
D. 9; $30
Cheating on a collusive agreement is more likely when
a. a price floor is in effect b. firms are located in the same state c. it is easy to observe the other firms' prices d. there is a small number of firms e. market demand is unstable