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14.1 The problem of imperfect information and asymmetric information  (Page 17/24)

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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, University of houston downtown: microeconomics. OpenStax CNX. May 28, 2014 Download for free at http://legacy.cnx.org/content/col11651/1.2
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