Author Question: When sellers have more information about hidden characteristics of a good than buyers have, more ... (Read 41 times)

bclement10 · **on:** Jun 30, 2018

When sellers have more information about hidden characteristics of a good than buyers have, more low-quality units are likely to be sold than high-quality units. This is
a. the law of diminishing marginal returns
b. the law of natural selection
c. the winner's curse
d. the lemons problem
e. the problem of common pools

Question 2

Which of the following groups has the lowest life expectancy at birth?
a. middle-income economies
b. low-income economies
c. high-income economies
d. sub-Saharan African economies
e. all the world's economies