Determine the type of market failure represented by the scenario below: Buying a used appliance on Ebay Select one: O a. negative externality O b. public good Oc. positive externality O d. tragedy of the commons e. asymmetric information

Determine the type of market failure represented by the scenario below: Buying a used appliance on Ebay Select one: O a. negative externality O b. public good Oc. positive externality O d. tragedy of the commons e. asymmetric information

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Market Failure: Externalities, Public Goods, And Asymmetric Information

Section: Chapter Questions

Problem 12QP

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Question

Determine the type of market failure represented by the scenario below.
Buying a used appliance on Ebay
Select one:
O a.
negative externality
Ob. public good
Oc positive externality
O d. tragedy of the commons
e. asymmetric information

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