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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Adverse selection has the potential to eliminate some markets. How so?

To determine

Explain adverse selection has potential to eliminate some markets.

Explanation

Adverse selection refers to the situation in which one party in a transaction takes advantage of knowing more than the other party in the same transaction. It occurs when sellers have better information than buyers or vice-versa, and can distort the usual market process...

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