Difference between adverse selections also moral hazard

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Q. 1.Illustrate what is meant by "1st-mover advantage"? Give an example of a gaming situation with a 1st-mover advantage.

2. If the utilized car marketplace is a "lemons" marketplace, Elucidate how would you expect the repair record of utilized cars that are sold to compare with the repair record of those not sold?

3. Explain the difference between adverse selections also moral hazard in insurance marketplaces. Can one exist without the other?

Q. Equity refers to Elucidate how the pie is divided also efficiency refers to the size of the economic pie-why?

Reference no: EM1321887

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