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10 April, 16:18

Tom is looking to buy a new laptop battery online. He wants to save money by buying used, but the problem is that he doesn't know how much life is left in the battery he's going to buy. This problem of asymmetric information could lead to:

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  1. 10 April, 20:18
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    Answer: Market failure

    Explanation:

    Market failure is the economic situation defined by an inefficient distribution of goods and services in the free market.
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