Final answer:
Imperfect information can make it difficult for buyers and sellers to agree on a price since each may have different perceptions of the product's value, leading to disagreements and difficulty in reaching a fair transaction.
Step-by-step explanation:
It can be difficult for a buyer and seller to agree on a price when imperfect information exists because each party may have different levels of understanding and knowledge about the item being transacted.
In the presence of imperfect information, buyers and sellers are uncertain about the quality and value of a product or service, which can lead to disparities in the price they believe is fair.
Buyers may not be experts on what they are purchasing, and similarly, sellers may not be fully aware of the buyer's valuation of the product or service. This discrepancy can cause disagreements on price, as each party strives to minimize their risk and maximize their gain, making it challenging to achieve a mutually agreeable transaction.
Therefore, the correct answer is One problem with Internet Data Exchanges (IDXs) is that they allow third-party internet companies to sell leads to companies' own listings. IDXs also lack a standardized format for updating listing information.