About hidden characteristics of a good than buyers

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Reference no: EM13987043

When sellers have more information about hidden characteristics of a good than buyers have, more low-quality units are likely to be sold than high-quality units. This is

a- the winner's curse

b- the lemon problem

c- the problem of common pools

d- the law of natural selection

e- the law of diminishing marginal returns

Reference no: EM13987043

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