Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman

Exercise 9

Each of the following is an example of (or would lead to)a particular type of market failure arising from information asymmetry. Identify the type of market failure and justify your answer briefly.
a. A woman in the "dating market" complains,"All the good ones are taken."
b. A college announces a new policy: Any senior with a GPA less than 2.0 will,upon graduation,have all grades of C- or lower retroactively raised to a grade of C.
c. A restaurant in New York hires workers to pass out fliers to pedestrians all over the city,and pays them based on how many fliers are gone (and presumably distributed)when the workers return at the end of the day.