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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.
I am writing a macroeconomics commentary about a supply shock-induced inflation, can I include a shortage diagram I learnt in microeconomics and just change demand and supply to AD
given the consumer maximizing problem subjest to consumption, the firm''s maximizing problem subject to revenue as a function of labour demand, and the government''s budget as G=T.
difference between gdp at market price and nnp at factor cost
Gross domestic product Definition Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP): Gross Domestic Product (GDP) is defined as the
what is keynesian model
Do we get paid nominal or real wage?
Q. Money market with inflation and rising money supply? Figure: The money market with inflation and rising money supply If we let π M refer the growth rate in money
explain the terms abnormal profits and normal profits
In the keynesian cross model, assume the consuption function is given by C=200=.75(Y-T) and planned investment=100, government purchases and taxes are each of them 100. a) Draw a g
What is fixed cost and variable cost? By the Production Function to Cost Curves: A fixed cost is a cost which does not depend onto the quantity of output generated. This i
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