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16.1 The problem of imperfect information and asymmetric information

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  • Card 17 / 24:
    asymmetric information

    a situation where the seller or the buyer has more information than the other regarding the quality of the item being sold

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Practice FlashCards 9 Key Terms 8

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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