Author Question: In a market with asymmetric information, a good is said to have hidden characteristics if: A) the ... (Read 35 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?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

For a complete list of videos, visit our video library