Adam Smith's invisible hand leads to an efficient outcome when
A) buyers are fully informed about all relevant aspects of the product and the market in which it is traded.
B) buyers have collected information only up to the point at which the marginal cost of acquiring more information equals the marginal benefit of having more information.
C) buyers have more information about the product being traded than do sellers.
D) buyers have less information about the product being traded than do sellers.
Correct Answer:
Verified
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