Relative to a market with perfect information, in a market with imperfect information
A) some goods will be sold in small quantities or not at all.
B) more than the equilibrium quantity of goods will be sold.
C) the equilibrium quantity will be sold, but at a price higher than the equilibrium price.
D) the equilibrium quantity will be sold for the equilibrium price.

Question

Quizplus · Accepted Answer

In a market with imperfect information, some goods may be sold in small quantities or not at all due to the lack of information about the qualities and characteristics of the goods. This can lead to some buyers being hesitant to purchase, resulting in lower quantities sold. However, this does not necessarily mean that more than the equilibrium quantity of goods will be sold or that the equilibrium price will be affected.

Relative to a Market with Perfect Information, in a Market