Multiple Choice
People sometimes make purchases without complete information because:
A) they are acting irrationally.
B) the opportunity cost of getting more information outweighs the benefit of having it.
C) the benefit of having more information outweighs the opportunity cost of acquiring it.
D) they prefer to take risks.
Correct Answer:

Verified
Correct Answer:
Verified
Q24: Joshua's boss is out of town for
Q25: Which of the following markets is subject
Q26: How can one solve the problems caused
Q27: The principal-agent problem occurs:<br>A)when the principal has
Q28: An insurance company offering both high-deductible and
Q30: In the principal-agent problem, the principal is
Q31: Information asymmetry is a situation in which:<br>A)people
Q32: Consider a hypothetical used car market in
Q33: Government-mandated participation in the auto insurance market
Q34: Consider a hypothetical market for health insurance.