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Author Question: When asymmetric information problems drive high quality products from a market, we refer to this ... (Read 47 times)

karen

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on: Jul 1, 2018
When asymmetric information problems drive high quality products from a market, we refer to this situation as:
 
  A) adverse selection.
  B) moral hazard.
  C) a lemons problem.
  D) A and C are correct.
  E) B and C are correct.

Question 2

Which of the following is NOT true regarding monopoly?
 
  A) Monopoly is the sole producer in the market.
  B) Monopoly price is determined from the demand curve.
  C) Monopolist can charge as high a price as it likes.
  D) Monopoly demand curve is downward sloping.


b614102004

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


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