Private information is a situation in which
A) two parties to an exchange have information that is available to outsiders if they ask.
B) one party to an exchange has information that is not available to the other.
C) the marginal cost of a person's obtaining additional information is zero.
D) the marginal cost of making information available to one more person is zero.
B
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An increase in which of the following would be most likely to increase long-run economic growth?
a) taxes b) interest rates c) consumer spending d) productivity e) value of domestic currency
Assume a firm is a monopoly and enjoys $10 million in profits per year. The firm lobbies to have a moratorium passed by Congress on new firms in its market for the next 25 years
If there is no discount rate, how much would the firm be willing to pay to deter entry? A) $250 million B) $25 million C) $100 million D) $250 billion