Private information is a situation in which
A) two parties to an exchange have information that is available to outsiders if they ask.
B) one party to an exchange has information that is not available to the other.
C) the marginal cost of a person's obtaining additional information is zero.
D) the marginal cost of making information available to one more person is zero.

Question

Quizplus · Accepted Answer

Private information refers to a scenario where one party in a transaction possesses information that the other party does not have, leading to an imbalance in knowledge.

Private Information Is a Situation in Which