Can you provide examples of markets or instances

Reference no: EM133439035

Question: One thing we learned in the chapter on consumer, producer, and total surplus, is that an important condition for markets to function is that price needs to be an accurate economic signal of the quality of the product. This echoes the concept of "information asymmetry" we learned in Chapter Can you provide examples of markets or instances where such an asymmetry was present (sellers knew more than buyers or buyers knew more than sellers), and it led to market failure?

Reference no: EM133439035

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