Which of the following scenarios is least likely to involve market failure due to the existence of private information?

Question

Which of the following scenarios is  least  likely to involve market failure due to the existence of private information?

Accepted Answer

Purchasing a slab of chocolate with an expiry date and ingredients labeled.

Answer

Purchasing a second hand car that is painted and polished.

Answer

Purchasing oranges that look good on the outside.

Answer

Making a hotel reservation because the owner is known to you.

Crowdly