Author Question: In a market with asymmetric information, a good is said to have hidden characteristics if: A) the ... (Read 83 times)

shofmannx20

  • Hero Member
  • *****
  • Posts: 562
In a market with asymmetric information, a good is said to have hidden characteristics if:
 
  A) the consumption of the good imposes an additional cost on the society.
  B) the production of the good generates additional benefits to the society.
  C) the seller offers secret discounts to some buyers.
  D) the buyer or the seller observes something about the good that the other does not.

Question 2

Refer to the figure above. When the demand curve for flash drives is D and the supply curve of flash drives is S1, what is the surplus in the market if the price is 7?
 
  A) 10 units
  B) 20 units
  C) 50 units
  D) 60 units



zhanghao

  • Sr. Member
  • ****
  • Posts: 316
Answer to Question 1

D

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

For a complete list of videos, visit our video library