Question

Which of the following problems could have been caused by asymmetric information? A community and a...

Which of the following problems could have been caused by asymmetric information?

A community and a factory are using scarce water.

Two farms argue because they are both using scarce water.

The owners of two factories argue about how much pollution each should have to reduce to attain EPA regulations.

A community is using water that is being polluted by a factory.
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Answer #1

Answer is last option- option d

The problem which could have been caused by the asymmetric information is 'A community is using water that is being polluted by the factory'.

According to asymmetric information definition 'This is a situation where there is imperfect knowledge. In particular, it occurs where one party has different information to another'.

According to definition only one party should have full information about particular topic or service but in the question in option 'a', ' b' and 'c' both the parties have information so these could not be correct answer.

But in option 'A community is using water that is being polluted by a factory' only one party know about it so that is why it is correct option.

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