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Economics (AS & A Level) · May / June 2023 · Paper 32 · Question 1

9708Private costs and benefits, externalities and social costs and benefits

Studies show that some dentists replace patients' teeth more often than is necessary. Which factor helps to explain why excessive dental treatment may take place?

  1. Athe existence of asymmetric information
  2. Bthe existence of dynamic efficiency
  3. Cthe existence of positive externalities
  4. Dthe existence of social benefits

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Correct answer: A. the existence of asymmetric information

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