In which of the following markets is the presence of asymmetric information of little concern to the buyer?
A. The market for used cars
B. The market for used computers
C. The market for used houses
D. The market for used textbooks
Answer: D
You might also like to view...
The discovery of a new oil field has attracted several new investors to Oiland. How will this affect Oiland's labor demand curve?
What will be an ideal response?
What would be an example of government good?
A) Jake buys an iPhone. B) The local driver's license office purchases a new digital camera and printer. C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer. D) Donald Trump purchases furniture for his office. E) Rhianna gets a haircut.
The kinked demand curve explains why __________ occurs in oligopoly even when costs change
a. collusion b. oligopolistic competition c. price rigidity d. marginal revenue rigidity e. the kink
During a recession, the price of restaurant meals falls by over 10 percent. The most likely cause is:
A. a shift of the demand curve to the right. B. a shift of the supply curve to the left. C. a shift of the supply curve to the right. D. a shift of the demand curve to the left.