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Imperfect infomation Flashcards

1
Q

What is symmetric infomation?

A

Perfect information that is equally accesiable to all parctipants in a market.

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2
Q

What is assumed in a market economy?

A

There is perfect information

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3
Q

What is perfect information?

A

Buyers and sellers have full knowledge regarding prices, costs and benefits of products

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4
Q
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Market Failure (4 decks)

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