If Sellers Have More Information About the Quality of Goods

question 22

Multiple Choice

If sellers have more information about the quality of goods than do buyers, then:

• A)buyers always will be exploited.
• B)buyers will never make purchases.
• C)sellers of better-than-average goods will have difficulty getting their asking price.
• D)sellers of lower-than-average goods will have difficulty getting their asking price.

---

Definitions:

Phylogenetic Species Concept

A concept in biology that defines a species based on the smallest group of individuals that share a common ancestor, representing one branch on the tree of life.

Adaptation

The process by which a species becomes better suited to its environment through the development of physical, behavioral, or physiological changes.

Bacterial Species

Groups of bacteria that share certain diagnostic traits and genetic similarities, differing significantly from other bacterial groups.

Identifying

The process of recognizing or establishing the identity of something or someone.