Market Failure Will Most Likely Arise from Poor Information When

question 115

Multiple Choice

Market failure will most likely arise from poor information when the product is

• A) a repeat-purchase item.
• B) easily evaluated on inspection.
• C) often purchased from the same seller.
• D) unlikely to be purchased from the same seller in the future.

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Definitions:

Public Road

A path or a roadway that is available for use by the general public and maintained by a public authority.

Tenancy At Sufferance

A leasehold estate, or tenancy, that arises when a tenant wrongfully remains in possession of the premise after his or her tenancy has expired.

Lease

A contract granting the use of certain real property to another for a specified period in return for the payment of rent.