Jeff and Steve Have Just Noticed Each Other at a Party

question 48

Essay

Jeff and Steve have just noticed each other at a party. Describe how they will use proximity, eye contact, and touching to communicate the possibility of a relationship.

Analyze market conditions and strategies in different scenarios involving goods with network externalities.

Understand the concept of separating and pooling equilibria in economic contexts.

Analyze the implications of information asymmetry in used car markets.

Apply the theory of adverse selection to various market scenarios.