there is no age requirement to purchase a computer but there is one to buy tobacco...
there is no age requirement to purchase a computer but there is one to buy tobacco and alcohol. of the reasons for limiting a market, economists rely on which to justify this
a. these goods are immoral when consumed by the young
b. these goods have external costs when consumed by the young
c. young consumers have inadequate information
d. government is necessary to control all consumption
Homework Answers
Ans. C. Young consumers have inadequate information. - There is a market failure due to presence of imperfect information.
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