1 why can asymmetric information between buyers and sellers, Ask an Expert

Economics

1. Why can asymmetric information between buyers and sellers lead to market failure when a market is other- wise perfectly competitive?

2. If the used car market is a "lemons" market, how would you expect the repair record of used cars that are sold to compare with the repair record of those not sold?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91576679

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