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A) With asymmetric information, free markets may not lead to efficient outcomes because the market for a service or product may break down due to adverse selection. Explain what adverse selection is and why it might lead to market break down? Under what conditions is a market breakdown more likely?
Venture capitalists look for inventors with good ideas but venture capitalists may not be able to judge the quality of an idea as well as the inventor. Provide some ideas on how venture capitalists can separate inventors with good ideas from those with bad ideas.
Explain why you expect your idea to work?
B) In the second part of your essay, pick a market for a service or a product with asymmetric information. Explain the nature of asymmetric information and how the market is organized to alleviate the problem. Discuss whether the asymmetric information is overcome or not.
Define the Fisher equation Fisher equation is: Money supply (stock of money) x velocity of circulation of money = price level x total transactions in the economy or MV =
A public good: A) Generally results in substantial negative externalities. B) Can never be provided by a nongovernmental organization. C) Costs essentially nothing to prod
complexity theory elements
Minimum wage laws are common in many countries. The debate over minimum wage includes claims about the impact of this action on employment levels and wage levels. What impact does
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
Consider the multiplier model we have studied in class. Assume that the economy is initially in equilibrium and that real income is $180. The marginal propensity to expend is 0.66.
In a group environment, should leaders be assigned at the beginning of a project or should leaders emerge as the group is working on the project? Outline the positives and negative
A mechanical engineer who is anticipating paying for his daughter's college education plans to start depositing money now (year 0) and continue through year 17. If he deposits $ 50
GDP vs GNP in kenya
Aggregate supply and the AS curve The AS curve is the aggregate supply as a function of P. It is horizontal when thesupply is low and upward sloping when the s
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