If a seller knows more about the good than the buyer does, there exists

Name: If a seller knows more about the good than the buyer does, there exists
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Asymmetric information occurs when one party in a transaction has more information than the other party. In this case, the seller has more information about the good being sold than the buyer does, which can potentially result in an unfair advantage or disadvantage for one of the parties.

If a Seller Knows More About the Good Than the Buyer