Multiple Choice
A seller of a used car knows more than the buyer about the car's condition.What is this an example of
A) a hidden action; specifically, it is an example of a hidden characteristic
B) a hidden characteristic; specifically, it is an example of a hidden action
C) an information asymmetry; specifically, it is an example of a hidden action
D) an information asymmetry; specifically, it is an example of a hidden characteristic
Correct Answer:
Verified
Correct Answer:
Verified
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