Which of the following problems occurs when some participants in a market have information that other participants in the market do not have?
A)excessive trust
B)private information
C)overproduction
D)excessive surplus

Question

Quizplus · Accepted Answer

The problem that occurs when some participants in a market have information that other participants do not have is called private information. This can lead to asymmetric information, as those with private information are able to make more informed decisions and potentially manipulate the market to their advantage.

Which of the Following Problems Occurs When Some Participants in a Market