When buyers are reluctant to buy, and sellers are reluctant to sell because both are discouraged by imperfect information, a(n) ______________ can result.

a. asymmetrical market
b. thin market
c. unbalanced market
d. thick market


b. thin market

When imperfect information is severe, and buyers and sellers are discouraged from participating, markets may become extremely thin as a relatively small number of buyers and sellers attempt to communicate enough information so that they can agree on a price.

Economics

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