Students sell used laptops online. Sellers know quality, but buyers cannot distinguish high-quality laptops from faulty ones before purchase. What can cause high-quality sellers to withdraw?

Question

Answer

Buyers offer a price based on average quality that is below high-quality sellers' reservation values

Answer

Buyers can perfectly identify each laptop's quality

Answer

A market price always solves information asymmetry

Answer

All high-quality sellers have zero reservation values

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Students sell used laptops online. Sellers know quality, but buyers cannot disti...

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