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Jeff is a big fan of the Cincinnati Reds. Jeff takes his son to the Red's game on Opening Day. Jeff does not have tickets
Jeff is a big fan of the Cincinnati Reds. Jeff takes his son to the Red's game on Opening Day. Jeff does not have tickets to the game, but he figures he can buy some from a scalper down by the stadium. After searching, he settles on some tickets a little out of his price range. When they get to the gate, the tickets don't work. It is discovered that the tickets the scalper sold Jeff were reported stolen and cancelled. Jeff and his son were unable to get into the game, and for a brief moment, Jeff was accused of theft. What is the market failure in this scenario? Group of answer choices No market failure Monopoly Moral hazard Asymmetrical information
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