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Author Question: Which of the following help to correct for the market failure of imperfect information? (Read 85 times)

go.lag

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Question 1

One reason to require medical practitioners to be licensed is that


◦ medical care involves substantial externalities.
◦ medical care is so expensive.
◦ medical care is a public good.
◦ medical care consumers lack perfect information.

Question 2

Which of the following help to correct for the market failure of imperfect information?


◦ truth-in-advertising regulations
◦ used car warranties
◦ medical licensing
◦ All of these are correct.


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Marked as best answer by go.lag on Apr 19, 2019

heinisk01

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heinisk01

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