PLEASE ANSWER ALL QUESTIONS ASAP!!! THANK YOU!!! There exists asymmetric informa

ID: 1110986 • Letter: P

Question

PLEASE ANSWER ALL QUESTIONS ASAP!!! THANK YOU!!!

There exists asymmetric information in a market:

if both sides of the market have the same information about the good.

only if buyers have better information about the good than sellers.

only if sellers have better information about the good than buyers.

if either buyers or sellers have better information than the other group.

The optimal level of pollution abatement is where:

the marginal benefit of abatement is greater than its marginal cost.

the marginal benefit of abatement is less than its marginal cost.

the marginal benefit of abatement is equal to its marginal cost.

none of the above

In the used car market, the less-informed party is the ________. In the health care market, the less-informed party is the ________.

buyer; seller

seller; buyer

buyer; government

seller; government

Which of the following is true about private goods?

A. They are rival in consumption.

B. They can have external benefits.

C. They are consumed by a single person or household.

D. All of these are true.

A market in which there are neither external benefits nor external costs is:

efficient.

inefficient.

efficient but not equitable.

impossible.

if both sides of the market have the same information about the good.

only if buyers have better information about the good than sellers.

only if sellers have better information about the good than buyers.

if either buyers or sellers have better information than the other group.

1. The correct answer is D.

2. The correct answer is C.

3. The correct answer is C.

4. The correct answer is D.

5. The correct answer is A.

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