A credence good is a product
A) with qualities that consumers lack the expertise to assess without assistance.
B) that emphasizes the features of its product.
C) with characteristics that enable an individual to evaluate the product's quality in advance of a purchase.
D) that an individual must consume before the quality can be established.
Answer: A
You might also like to view...
The OASDI trust fund is projected to sink below zero in ¬¬_____
a. 2012 b. 2021 c. 2033 d. 2045
Railroad deregulation led to higher prices for railroad service
Indicate whether the statement is true or false
In which of the following situations is the principal-agent problem least likely to occur?
a. a hospital stay b. a doctor's visit c. a bartender serves you at the bar d. your TV is repaired e. a stockbroker calls with financial advice
Insolvency is a condition where a firm's
A) liabilities are greater than assets. B) assets are greater than liabilities. C) assets are equal to liabilities. D) liabilities are less than or equal to assets.