Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It might be difficult to find a knowledgeable sales clerk because consumers could just get the information from him / her and buy the same
It might be difficult to find a knowledgeable sales clerk because consumers could just get the information from himher and buy the same product somewhere else often online cheaper. Since the retailers wouldn't get paid for giving out the information ie training their salesclerks the amount of information is underproduced.
This occurs because information is:
Group of answer choices
moral hazard
adverse selection
asymmetric
a public good
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started